The Manchester-based developer wants to redevelop the town’s market precinct into a mixed-use scheme featuring 220 homes and 34,000 sq ft of commercial space.
Following a public consultation on the plans, Capital & Centric has lodged an outline planning application for the £50m King Street project with Bolton Council.
Located next to the town’s bus station, the aim of the BDP-designed scheme is to “reboot” the town centre and create a “bustling destination for artisan markets, live events, art galleries and pop-ups for foodies”, according to the developer.
Tim Heatley, co-founder of Capital & Centric, said: “It’s ambitious projects like this that will transform town centres across the region. This is about rebooting the market town, with bold architecture, awesome homes, and spaces for events and creatives that will draw people in.
“It’ll be a new destination for people to live, work and hang out and will put Farnworth on the map. There is a real buzz and excitement around what we’re looking to do.”
While it is not yet decided how the commercial space within the development will be used, a mini-cinema, restaurants, a gym, events space, and an art gallery are all potential options.
A linear park connecting the site and Farnworth Central Park, and a public square also feature under the proposals.
Cllr Martyn Cox, deputy leader of Bolton Council and cabinet member for regeneration, said there had been an “overwhelmingly positive response” to the project from Farnworth residents.
“We believe this development meets the needs of the local community and visitors while transforming and stimulating long-term economic growth for both Farnworth and the wider borough.”
Last December, Farnworth was awarded £13m from the Government’s Future High Street fund to help transform the high street.
These funds will help deliver the town centre masterplan adopted by Bolton Council in 2019, which includes plans to redevelop the market precinct, which Bolton Council bought from St Modwen in the same year.
As well as the redevelopment of the market, the masterplan set out plans for a community and civic hub, the extension and overhaul of Farnworth leisure centre, £5m of investment in public realm and connectivity, and a further £5m towards improving building facades and signage.