A proposal to begin a consultation process and search for a 50/50 joint venture partner to redevelop 21 acres of Oldham town centre has been approved by the council.
A new masterplan has been prepared for the redevelopment by Leach Rhodes Walker in collaboration with the council, covering five underused plots across the town centre.
The proposals are intended to complement the recently agreed Cultural Quarter programme in Oldham, and bring forward up to 600,000 sq ft of new and refurbished employment space, a mixed residential strategy, retail, leisure, hotel, a multi-agency civic hub and car parking.
Oldham Council said it will seek to engage a joint venture partner on a profit share basis, and is open to considering other structures and funding options. The council would be prepared to make land, capital and lease covenant commitments to aid delivery of the overall development.
Following the consultation process, it is anticipated that an OJEU notice would be triggered late autumn 2017 with selection of a preferred partner in late summer 2018.
The development delivery period will be ten to 15 years with an anticipated start on site in spring 2019.
These sites included in the plan are Tommyfield Market, the Civic Centre, Oldham Police Station, the former Oldham Sports Centre and Oldham Magistrates Court, and the current Oldham Coliseum Theatre.
A priority proposal is to deliver a rebuild of the Tommyfield Market on its existing site, next to a new 600-capacity multi-storey car park, plus retail and leisure units, and public realm.
A new Civic Hub is proposed using land including the former Oldham Sports Centre, to consolidate several council agencies into one building, alongside commercial office space.
The current Civic Centre, Magistrates Court and Oldham Police Station sites could be the location for a refurbished Queen Elizabeth Hall with a new hotel, plus offices and homes.
Additional homes could go at the current Rock Street car park site and the surrounding area.