Stockport MDC secures partner for £250m town centre regeneration project

The regeneration of Stockport town centre continues with these latest plans for a new development project.

Stockport Mayoral Development Corporation (MDC) has today announced a long-term joint venture with The English Cities Fund (ECF) to develop an eight-acre site, known as Stockport 8, in Stockport town centre.

Together they will invest over £250 million to transform the site - on the west side of the viaduct - into a new digitally enabled, green and fully walkable neighbourhood, with around 1,200 new homes, alongside retail, leisure, and office space.

The plans are among the largest town-centre development projects in the UK, let alone Greater Manchester.

The new site will be adjacent to the viaduct, on the opposite side to the new bus interchange - another massive piece of Stockport's regeneration.

The historic bridge will run between the two new projects, merging modern Stockport with its industrial heritage.

Stockport viaduct will bisect the new bus interchange and the Stockport 8 site, as shown here (Image - Stockport Council)

In an optimistic statement about the project, Greater Manchester Mayor Andy Burnham said: "This new site offers an exceptional opportunity to be part of one of the leading regeneration projects right now, not only in Greater Manchester but across the UK.

"Stockport is already one of our best-connected business locations, with fast transport links to Manchester, Birmingham and London, and the transformative plans being delivered by the MDC and its experienced partners will secure its future as one of the best town centres in the country to live.

"The MDC is a powerful tool to bring about rapid change, and is set to add £117 million to the local economy every year.

"I've no doubt that Stockport will be recognised for generations to come as a benchmark for what can be achieved through place-focused, locally led regeneration."

Cllr Mark Hunter, Leader of Stockport Council, also said: "Stockport Council and ECF are united in our goal to deliver genuine, long-lasting social value.

"We were impressed by ECF's commitment to an inclusive approach, in order to best unlock the potential of Stockport 8 and deliver a mixed-use neighbourhood that will help existing and future communities to thrive in Stockport.

"Between Weir Mill and Stockport Interchange, this new neighbourhood will complement our other major developments, as well as deliver new jobs and contribute to a vibrant town centre."

The site forms part of the Town Centre West Masterplan, for which Stockport MDC is the delivery vehicle.

In all, the masterplan will see the creation of up to 4,000 new homes, 1 million sq ft of new employment space, major public transport improvements, new green space and local amenities over the next 15 years.

"It brings together powers devolved to the Greater Manchester Mayor, Andy Burnham, combined with strong local leadership from Stockport Council and the long term commitment of the government's housing agency, Homes England, to deliver an ambitious vision for the future of Stockport town centre."

Speaking of the new preferred partner for the venture, the ECF, chair of Stockport MDC Lord Kerslake said: "It speaks volumes about the strength of the opportunity in Stockport that, within just one year of starting our search for a new development partner for Stockport 8, we have secured a long-term joint venture with ECF."

The ECF is "a development company set up by three of the UK's leading regeneration and investment organisations", according to a statement on gov.uk. "We work in partnership with the public sector to transform urban areas and create exceptional new places."

Sir Michael Lyons, Chair of ECF, said "We welcome this opportunity to be a part of an ambitious programme of town centre regeneration, and to play an important role in the long-term growth and ambition of Stockport."

The planning application for Stockport 8 is expected to be delivered in 2024, with the first phase of development anticipated to take place in 2027.