DTZ takes Grand Central lettings role
Muse Developments has appointed DTZ as letting agent on the £145m regeneration of the Grand Central area of Stockport.
The site immediately adjacent to Stockport railway station was acquired by Stockport Council in 2010 after plans to redevelop it with Norwich-based developer Targetfollow fell through. One of the developer's subsidiaries, Targetfollow Property Holdings, went into administration.
Muse was appointed by the council in 2011 to redevelop a scheme it claims can generate up to 700 new jobs and attract up to a further £100m in private sector investment.
The office-led mixed use development is also designed to enhance the attractions of Stockport and increase its business base.
Muse has prepared a scheme which has the potential to provide up to eight office buildings totalling nearly 400,000 sq ft, with retail and leisure activities on the ground floor, a 1,000 space multi-storey car park and a hotel.
In addition, the quality of the public realm will be greatly enhanced alongside the experience of rail passengers using Stockport station.
The first phase of the development has already started, with the construction of the multi-storey car park which has been forward funded by Canada Life and will be completed in 2014. Morgan Sindall is the contractor on the first phase of the project.
This will release the land for the second phase of the scheme. This is currently planned to be a hotel, office building and new public realm outside the station.
Phase three will include further office buildings, extension of the open space and further improved accessibility for pedestrians on a phased basis up to 2020.
DTZ will be providing development and letting advice.
CBRE is also a joint agent on the scheme. The architect is RHWL.
Ken Bishop, senior director at DTZ, said: "This is a significant scheme for Stockport which has every prospect of becoming a successful development given its pivotal position adjacent to the town centre, A6 and the station.
"There are few schemes of this quality in the region which can boast its own main line rail station.
"Given the increasing focus on sustainability and the use of public transport, this is likely to be an even greater advantage in the future. We are delighted to have been selected to work with Muse and look forward to making a full contribution to its success."
Wes Erlam, senior development manager at Muse, said: "The Grand Central scheme will provide a fantastic business quarter for Stockport and will regenerate this area of the town. We are delighted to have a great agency team in place that will be able to highlight its significant advantages."
