Capital & Centric confirms Stockport mill purchase
The developer has completed its acquisition of Stockport’s listed Weir Mill, and is planning a £60m residential conversion to bring 250 flats to the town in its first Greater Manchester project.
As revealed by Place North West in January, Capital & Centric bought the site from Maryland Securities, which had its own Hodder-designed residential proposals in the pipeline but were never brought forward.
While active in Manchester, Liverpool, and Sheffield, the Stockport deal is Capital & Centric’s first foray into a Greater Manchester town.
The project would be one of the first to come forward within Stockport’s Mayoral Development Corporation Zone, and sits alongside the £120m transport interchange being developed by the council and Transport for Greater Manchester.
The Weir Mill scheme will see the restoration of the 1700s grade two-listed mill buildings alongside new-build blocks, and is backed by £7m from Homes England.
The development will include a frontage onto the River Mersey, opening up public access to the waterside. There are also plans for ground floor commercial spaces including café-bars, delis and independent shops.
Tim Heatley, co-founder of Capital & Centric, said: “It’s the buildings like Weir Mill that give a town its character. To save these amazing mills we have to find viable long term uses for them. By developing a new community we’ll not only be creating some incredible places to live but we’ll be opening up access to the waterside for everyone.
“Town centres are changing and it’s places like Stockport that are rising to the challenge with ambitious regeneration plans. With easy access into Manchester and a stone’s throw from the Peak District, Stockport town centre is becoming a really exciting alternative to city living. I’m a huge fan of Stockport Exchange which has really raised the bar and encouraged people like us to invest.
“Times are tough but regeneration projects will be an important part of Greater Manchester’s recovery. We’re hugely excited to be coming to Stockport and this deal shows how much confidence we have in the town.”
A planning application is expected later in the year. BDP has been appointed as architect.The developer has completed its acquisition of Stockport’s listed Weir Mill, and is planning a £60m residential conversion to bring 250 flats to the town in its first Greater Manchester project.
Lord Bob Kerslake, chair of the Mayoral Development Corporation said: “Regeneration and development has to be a national driver for recovery post Covid-19 and the MDC offers substantial opportunities to deliver this at pace and scale in an area where the ambitious plans are already underway. The decision by Capital & Centric to come and be part of those wider plans and their belief in Stockport and the MDC is welcomed and we look forward to working with them and other partners in delivering a nationally significant model for town centres.”