Real Estate Investment Partnerships and Hardy Mill Properties have secured planning consent for a retail development on the site of the former Bay Horse pub in Hyde, anchored by The Co-operative.
The site, situated on the corner of Talbot Road and Victoria Street, on the main link road between Hyde and Stalybridge, was purchased in a partnership between Real Estate Investment Partnerships and Hardy Mill Properties.
The development will see the demolition of the existing pub, which has been closed for three years, and construction of three retail units. The Co-operative has agreed to take the largest 3,500 sq ft unit for a local foodstore. Real Estate is also in talks with other national retailers for the remaining units, both approximately 1,000 sq ft.
Real Estate aims to be on site by November 2015 with practical completion targeted for May 2016.
Steve Slater, investment Director at Real Estate Investment Partnerships commented: “Real Estate saw a lot of potential when we saw this site and we are looking forward to beginning work to transform it into something that will benefit the local community. Its great location means people passing between Stalybridge and Hyde can also benefit from the retail offer. We are continuing to look at other potential sites across the North West for future development.”
The news follows the recent completion of work on Real Estate’s Horwich development, a joint venture with Barnfield Construction, also anchored by the Co-operative with lettings also to Barnardo’s, Subway and Greenhalgh’s Craft Bakers. The investment opportunity will shortly be brought to market by Metis Real Estate.