Property Alliance Group has sold the 18-acre Eaton Works site in Walkden to Countryside Properties for an undisclosed sum, paving the way for 302 houses to be built in the area.
Off the M61 and near Walkden town centre, the site has been owned by PAG since 2007 and is home to two industrial buildings totalling around 250,000 sq ft. Demolition of these buildings is already under way to clear the site for housing.
Countryside secured consent for 302 homes on the site in September last year. Around 50 of these have been allocated as affordable homes, with a further 148 houses brought forward by Countryside’s partner Sigma, which will build the homes for private rent.
The remainder will be marketed for sale by Countryside, and the affordable homes will be brought forward by housing association Great Places.
Overall, there will be four one-bed apartments; 85 two-bed homes, including 58 apartments; 166 three-bed houses; and 47 four-beds.
The Section 106 agreement is set to include the provision of 52 affordable homes on the site; £100,000 in highways contributions to be used for junction works at the Bolton Road/A6/Memorial Road signal junction, and junction improvements of pedestrian crossing facilities at the junction of Bolton Road and the New Ellesmere Approach.
The project is set to complete in 2022.
Frank Taylor from Alliance said: “The property has served well as industrial and employment space for decades, however this brownfield site is now past its economic life. The regeneration will make way for privately owned, affordable and PRS houses in an area where there is huge demand. “
Preston O’Herlihy advised Countryside on the deal.