The next phase of the Stockport Exchange development will include a new office block and 400-space multi-storey car park, it’s been revealed.
New council papers say the block will be part of the huge scheme’s fourth phase. It will be 64,000sq ft in size, aimed at helping Stockport’s recovery from the pandemic.
Located next to the town’s train station, the previous three stages of the project have already brought two office developments, a 115-bedroom Holiday Inn hotel, and a multi-storey car park to the area.
BASF currently occupies the two top floors of the Phase Three offices completed in May – and town hall bosses are keen to capitalise on the success of the scheme.
A report to the council’s cabinet makes the case for pushing ahead with a further phase of development, according to the Local Democracy Reporting Service.
It states: “It is essential to maintain momentum at Stockport Exchange to bolster the proposed transformation of the town centre through the delivery of high quality commercial floor space and employment opportunities.”
The document claims the economic advantages of the 64,000 sq ft office development would be ‘significant’- and aid Stockport’s recovery from the Covid-19 pandemic.
It also warns that £4.2m secured via the government’s Get Building Fund could be at risk if the council ‘slows the pace of Stockport Exchange delivery’.
The scheme is not without its complications, however.
It would be built on part of the development’s temporary car park – meaning there would no longer be enough spaces to cater for all the businesses based there.
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Provision for current tenants would have to be found at other town centre car parks during the construction of the new multi-storey.
Stockport council bought Stockport Exchange – formerly Grand Central – in 2011, when it was earmarked as a key town centre regeneration site.
As well as new offices and a hotel, it also now boasts a Sainsbury’s convenience store and Cafelito coffee shop and has been transformed into a more attractive area.
The various phases have been carried out in partnership with Muse Developments – which is involved in several other schemes across Greater Manchester, including in Bolton and Salford.
Stockport council’s economy and regeneration scrutiny committee will consider the report when it meets on Thursday night.
It will then go to cabinet next month for a decision on whether to proceed with the scheme.