Amstone Ventures has acquired the 3.3-acre former Sainsbury’s site in the town centre for a £100m build-to-rent development.
Sainsbury’s closed its doors at the Warren Street site in January and has now concluded the site’s sale. Architect Leach Rhodes Walker is drawing up plans for a scheme including apartments and townhouses, with Deloitte also on the Amstone team as planning consultant.
A planning application is expected this year ahead of a hoped-for start on site early in 2022.
Stockport has forged ahead with major plans to establish the town centre as a residential hotspot in the last couple of years, working through a Mayoral Development Corporation to advance sites.
Key projects include Capital & Centric’s Weir Mill and Investar’s Royal George Village, along with a residential tower within the transport interchange development. In addition, £14.5m was secured from the Future High Streets Fund.
Amstone said that in terms of scale and amenity, the site is closely matched with the scheme the firm recently delivered at Clippers Quay in Salford for Grainger, a 600-apartment scheme completed in May 2019.
Martin Halsey, operations director at Amstone Ventures said: “Amstone has a range of build to rent developments across Greater Manchester. What these sites have in common is that they are in great locations with excellent transport links and incorporate high quality design offering city centre living to a wider demographic.
“We can see that Stockport has untapped demand for quality homes within its town centre, offering a vibrant lifestyle and everything Stockport town centre has to offer, all on the doorstep.”
Cllr David Meller, cabinet member for economy and regeneration at Stockport Council, said: “It is great to see the former Sainsbury’s site being brought back into use so quickly, which shows the confidence so many have in our town centre.
“Amstone joins the list of developers who are helping to deliver the regeneration of the town centre and this complements our ambitious plans for the town and our reputation as great place to live, work, enjoy and do business.”
Elsewhere, Amstone has agreed a forward funding deal with One Manchester to deliver 96 homes in Longsight.