Trafford Council is set to sign off a deal with developer Lunar which will help to bring forward the redevelopment of Clarendon House on Stamford New Road in Altrincham into 60 apartments.
Lunar is the leaseholder of the 40,000 sq ft vacant office building opposite the town’s transport interchange, which is home to retail units on the ground floor and the town’s library on the first floor. Trafford Council is the freeholder of the building.
The developer has planning permission to convert the second to sixth floors of the building into 60 apartments, designed by Colman Architects, and offered to buy the freehold from the council to help bring forward the development.
This offer, made last month, was rejected by the council, which said the disposal of the site was “not aligned” with its investment strategy where it is seeking revenue returns.
Instead, the council and Lunar are set to agree a restructuring of the leases, which will allow Lunar to market and sell off the potential residential development, while the council will receive a share of the sale and will also receive rental income from the project once it completes.
The council said the agreement was subject to Lunar marketing and assessing potential bidders for the scheme “in a way that minimises risk”, with developers needing to show proof of funds to purchase and develop the building.
If the development goes ahead it will be the latest in a series of office-to-residential conversions in Altrincham. Other projects under way include 60 Stamford New Road above the former Dili restaurant, which is being converted into apartments by developer Novo.
Elsewhere in the town centre, Novo is also planning to convert the former Myersons Solicitors office on Regent Road into homes, and in March, developer Quinta sold Bradbury House, also on Stamford New Road, to PRS investor Lomond Capital.