Bolton to showcase regeneration plans at MIPIM 2008 in Cannes - MIDAS

Bolton to showcase regeneration plans at MIPIM 2008 in Cannes

5 March, 2008 – Bolton to showcase regeneration plans at MIPIM 2008 in Cannes

Bolton Council will be showcasing plans for 130 hectares of development and over £1bn of planned investment across four sites in the Town Centre: the Innovation Zone, Church Wharf, Central Street and Merchant's Quarter, at MIPIM (Marche International des Professionnels d'Immobilier) in Cannes, from 11-14 March 2008.

Bolton will be making its second appearance at MIPIM as the only council except Manchester to be part of the Manchester city region delegation. MIPIM is the world’s premier real estate and property summit, attracting key decision-makers including national and international developers and investors.

Bolton Council’s Executive Member for Development, Councillor Ebrahim Adia said: "Bolton’s attendance at MIPIM is part of a comprehensive strategy to build on its role as one of the North West’s top strategic investor destinations.

"Bolton is now recognised as the second fastest growing investor destination in the Manchester city region, the region’s fifth largest employment centre, and seventh most important retail destination, and the home of the UK’s fastest growing university.

"At MIPIM, developers and investors will be able to find out information on a number of exciting development opportunities available in Bolton, which represent up to Ј1bn in investment and are expected to bring 20,000 new jobs to the town over the next 10 years."

At MIPIM, Bolton Council will provide an update on Bolton Innovation Zone (BIZ); a 67 hectare mixed-use, leisure and knowledge-led development, which will create more than 4,000 jobs and attract Ј300m of new private investment to the town over the next 10 years.

The BIZ includes 30 hectares of commercial development space, which is likely to include a mixture of high quality office space, leisure space, hotels and residential accommodation for students. The development focuses on the expansion of the University of Bolton, a Manchester: Knowledge Capital core partner; the co-location of two major Colleges  the region’s single largest further education investment; the creation of a major Transport Interchange; with new health and leisure facilities and an integrated Cultural Quarter.

The Council is currently working to secure a major development partner for the BIZ, with expressions of interest currently being evaluated and a preferred developer or developers will be selected and announced in summer 2008.

At Church Wharf, Bolton Council has announced a joint venture between Ask Developments and Bluemantle as the preferred developer for the 14 acre (5.7 hectare) Ј210m mixed-use scheme. The scheme will include a new city-scale office quarter providing over 300,000 sq ft of Grade A business accommodation; a new leisure zone with cinema, retail, cafйs, restaurants, bars, a boutique hotel and apartments. Ask:Bluemantle plans to submit detailed proposals for planning approval in March 2008 and start work in late 2009.

At the planned Central Street development by Wilson Bowden, Tesco has recently confirmed that it hopes to anchor the Ј110m scheme, which has planning permission for 350,000 sq ft of commercial space including retail, leisure, residential (60 apartments) and an 810 space car park. If Tesco takes up all the available space, the store would cover 85,820 sq ft on the ground floor and a further 30,100 sq ft on a mezzanine floor.

Merchant’s Quarter is the fourth development which Bolton will be promoting at MIPIM. A masterplan for the planned future redevelopment of the entire area will seek to create a commercial urban business quarter in the town centre with potential to attract Ј200m investment in up to 500,000 sq ft of Grade A office space.

A range of hotels, restaurants, bars and retail units will both serve those working in Merchant’s Quarter as well as attracting visitors from other parts of the town centre. Charles Topham Group has already completed No 1 Merchant’s Place, the conversion of two buildings into 20,000 sq ft of office space and No 2 Merchant’s Place will provide another 80,000 sq ft of office space by late 2008.

Source: Bolton Council press release


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