GMPF picks developer for Chorlton Shopping Centre
The Greater Manchester Pension Fund has selected the PJ Livesey Group as development partner for the proposed transformation of the South Manchester retail complex.
The 3.2 acre site, bounded by Barlow Moor Road, Wilbraham Road and Nicolas Road, comprises the shopping centre, together with Graeme House and an adjoining 200-space surface car park.
A development framework, setting out residential-led regeneration for the site, was adopted by Manchester City Council in 2017.
The framework, drawn up by 5plus Architects and Avison Young, suggests up to 190 homes – a mix of townhouses and apartments – could be created at the site.
PJ Livesey development director James Woodmansee said: “This is a huge opportunity but also a huge challenge to get right and it has to meet the needs of the Chorlton community.
“We want it to be the centrepiece of the neighbourhood, a place where people come to shop, to meet and to live with a range of high-quality housing available to meet all needs.”
He added: “This new partnership marks the start of new life for the shopping centre site, and it also marks the start of extensive consultation about what that new life should be and we want local people to help us shape that.”
A consultation on PJ Livesey’s proposals will begin later this year. Existing retailers will continue to trade as normal during this process.
Gareth Conroy, director at Avison Young – the property manager to The Greater Manchester Pension Fund – said: “Sustainability will be a focus of the project and we look forward to evolving the existing development framework to create something special which has a positive impact on Chorlton.
“The project is further evidence of GMPF’s continued investment within Greater Manchester, helping to stimulate the local economy whilst at the same time delivering much-needed new homes.”
The redevelopment of Chorlton Cross Shopping Centre has been in the pipeline for more than a decade and now the GMPF is embarking on a fresh push to realise the site’s potential.
GMPF has owned the site since April 2014 when it bought it from Development Securities, now U+I, for £10m.
Prior to that, Altrincham-based developer Citybranch, along with Manchester City Council and Ask Developments, had aborted redevelopment plans in the 2009 recession and sold the site to Development Securities in 2011.
The process of finding a development partner for the scheme began 12 months ago.
At the time, GMPF said it would dispose of the site via a development agreement. In addition, GMPF is to provide the purchaser with 80% of the cash needed to fund the development.
GMPF will not charge interest on the loan but will be entitled to 50% of development profits, according to sales documents.
