Major update on development of massive Greater Manchester site as 50-year-old shopping centre is demolished
The company behind some of the UK’s biggest urban regeneration projects has been confirmed as Bolton Council’s partner for the redevelopmentof Crompton Place.
The site, which once cleared will be one the biggest inner town development spaces in the country, will be developed by Federated Hermes’s specialist development arm, MEPC, which was appointed at a recent cabinet meeting.
MEPC is behind other major urban regeneration schemes, including NOMA in Manchester, Wellington Place in Leeds and Paradise in Birmingham. The council said the decision comes at the end of a robust and highly competitive selection process.
It said Federated Hermes was selected after an examination of financial standing, deliverability, design quality, innovation, social value and alignment of their proposals with the Bolton 2040 borough plan.
The council said the real estate team at Federated Hermes demonstrated ‘an extensive track record in delivering complex, multi-phase projects and working with councils and communities to meet locally identified needs and support lasting economic and social outcomes’.
Crompton Place has been identified as a priority scheme within the Greater Manchester Strategy and the Greater Manchester Combined Authority (GMCA) Good Growth fund.
Following the appointment of Federated Hermes, Bolton Council will now seek to secure GMCA funding to support the project.
Bolton Council Leader, Nick Peel, said: “This is a once-in-a-generation opportunity to create something everyone in Bolton can be proud of.
“Crompton Place lies at the heart of the ongoing regeneration of Bolton as we consolidate our retail offer and create much-needed housing, new hospitality venues and bustling public spaces.
“The appointment of such a well-known and successful developer sends a clear message to the market that the regeneration of Bolton is entering a new phase, and I am sure this will attract further inward investment for our borough.”
Paul Pavia, head of development at Federated Hermes Real Estate, said: “We believe real estate has a powerful role in responding to local needs, enhancing the connections between people, businesses and communities, whilst delivering positive economic outcomes, and Crompton Place is a clear opportunity to put that belief into action.
“Just as Samuel Crompton’s innovations shaped Bolton’s past, we are excited to join forces with Bolton Council in helping shape the future of this historic town with a strong industrial heritage.
“We will collaborate closely with Bolton Council, local stakeholders, communities, and investors to bring Crompton Place into its next chapter so that it remains inclusive, relevant and successful over the long term.”
Planning permission for the demolition of Crompton Place was secured in August and is currently scheduled for completion in Spring / Summer 2027. Visitors to the town centre will see the reintroduction of a direct pedestrian route between Victoria Square and Bradshawgate.
There are also plans to use a key part of the newly cleared space for public performances, events, pop-up markets and more.
The council said this ‘meanwhile use’, during the period between demolition and the start of new development, will ensure the area ‘remains vibrant and continues to attract visitors to the town centre’.