Bolton secures missing piece of £200m Crompton Place jigsaw

The HSBC building on Victoria Square is now owned by the local authority as it presses ahead with plans to overhaul the town centre in partnership with Federated Hermes.

While attached to Crompton Place, the unit was not included in Bolton Council’s acquisition of the 280,000 sq ft retail complex from Santander Pension Fund in 2018, which was made with a view to transforming the town centre.

Securing the unit, for which the council has paid £1.74m, will be integral to the realisation of the proposed redevelopment of the town centre, the council said.

Bolton Council Leader Cllr Akhtar Zaman, said: “Crompton Place is our flagship redevelopment project and alongside our partners Federated Hermes MEPC we are looking forward to a new town centre development that everyone in Bolton can be proud of.

“While it has always been possible to deliver this project without acquiring the HSBC building, this decision will secure control of a strategically important site and enable a comprehensive redevelopment.

“It represents the last piece in the puzzle to allow the site to reach its full potential.”

As first revealed by Place North West, Bolton Council selected Federated Hermes as development partner for the regeneration project in January.