The 135,000 sq ft first phase was developed by St Modwen but the firm has decided not to take up the option to deliver the 70,000 sq ft second phase.
St Modwen’s decision not to continue at Chamberhall Business Park is “because of a review of internal company priorities rather than any structural issue with the market for industrial floorspace”, according to a report to Bury Council’s cabinet.
Bury Council is now looking to procure a development partner to complete the 17-acre employment complex.
A decision on a preferred partner is expected by December.
Once a developer is selected, it will sign a 250-year lease on the seven-acre site.
The chosen developer will be “contractually obliged to facilitate the construction of circa 70,000 sq ft of new light industrial floorspace”, according to the council.
However, the exact quantum and type of floorspace is yet to be decided.
The seven-acre phase two site is located south of phase one, off Harvard Road between the fire station and the police station.
Bury appointed St Modwen to develop the first phase of Chamberhall Business Park in 2015 and the scheme completed in May 2020.
Occupiers at the 14-unit complex include Burgaflex, Capper Sharrock, Bollin Valley and Youthstar.
The council estimates phase two could generate income of £300,000 a year once complete.