Bolton splits with £1bn city regeneration plan developers

Aaron Morby 3 years ago
Share

Bolton Council has parted ways with the developers behind its ambitious £1bn town centre regeneration plans.

Plan to replace Crompton Place Shopping Centre on Victoria Square with a new retail and leisure complex
Plan to replace Crompton Place Shopping Centre on Victoria Square with a new retail and leisure complex

Developer Bolton Regeneration  – a partnership between Chinese firm Beijing Construction Engineering Group International (BCEGI) and regeneration specialists Granite Turner – have agreed with the council to rip up the agreement.

A key part of the plan, the £250m redevelopment of Bolton’s Crompton Place Shopping Centre was due to start this year.

Now the council will have to find a new developer to take forward this project as well as its other planned Trinity Gateway and Le Mans Crescent projects due to be developed by Granite Turner.

The council said that as circumstances have changed over the last 18 months, a mutual agreement was reached with partners BCEGI and Granite Turner to surrender their options agreements on the projects.

Bolton Council leader, Coun Martyn Cox, said: “Although re-procuring development partners will extend the development process, removing all option agreements gives us a much better chance of securing a levelling up fund grant from government.

“The work already undertaken in relation to these projects means the new developers will start from a more advanced stage than would normally be the case and will therefore be in a position to start construction as soon as possible.”

The council said it hoped to have a new development partner in place before the end of the year.

 

Latest news

Gove puts another major building scheme on hold

Secretary of State starts another planning fight after M&S defeat
3 hours ago

Delancey submits £400m King’s Cross lab plans

200,000 sq ft lab/office project will be built above railway and tube tunnels just 4.5m below
20 mins ago

Sellar plans £500m City tower next to Walkie-Talkie

Consultation starts on London 60 Gracechurch Street tower
8 hours ago

Severfield ends year on high with record order book

Orders top £500m with strong future pipeline of opportunities ahead
9 hours ago

Second senior director exits National Highways

Commercial director Malcolm Dare set to move on to new role
9 hours ago

New scheme fuels London lab building boom

Plans in for 160,000 sq ft Whitechapel scheme near Royal London hospital
9 hours ago

Contract race starts for next £155m section of A9 dualling

Prior Information Notice published for Tay Crossing to Ballinluig stretch
1 day ago

£55m Sheffield build-to-rent scheme approved

Demolition to start later this year for 158-flat Sheffield Garden project
1 day ago

London back as most expensive place to build in world

Capital leapfrogs Geneva to top costliest construction rankings
1 day ago

Gas supplier Regent to buy TClarke for £90m

£491m turnover listed building services specialist to be sold
1 day ago

Steel contractor Billington launches into bridge market

Steelwork firm hires staff from failed architectural and bridge specialist SH Structures
1 day ago

McGee employees benefit from rise in profits

Pre-tax profit doubles boosting payouts for Employee Ownership Trust
1 day ago

Lendlease veteran is latest new McAlpine director

Paul Sims joins as Operations Director after 40 years at rival contractor
2 days ago

Costain signs site labour supply deal with four firms

Contractor to use only a quartet of providers for temporary labour supply
1 day ago

BAM go-ahead for Leeds 200,000 sq ft office

Latitude Yellow will complete final plot at Doncaster Monk Bridge site
2 days ago

VolkerFitzpatrick wins £30m logistics job

Latest deal to build five distribution units for Prologis UK
2 days ago

Trio win new Scape utilities consultancy framework

Perfect Circle, AtkinsRéalis and Arcadis win places on
1 day ago

Precast firm FP McCann cleared after immigration raid

Home Office takes no action after public raid on construction site
2 days ago

Wates-owned SES restructure delivers record profit and revenue

Building services contractor revenue soars to almost £300m
2 days ago

25 groundworks firms win £100m Places for People deal

M&J Evans, Carmac and Churngold Construction feature in housing association's line-up
2 days ago

Energy efficiency firms angry at lack of CITB support

SME contractors funding bid "does not meet the current criteria for supporting productivity or EDI"
2 days ago

£400m South Cambridge science park approved

Outline approval allows former sewage treatment works to be demolished
2 days ago

McLaren gets green light for 45-storey Leeds tower

Landmark Wellington Square scheme will see 464 flats built with 360,000 sq ft of offices
5 days ago

Heavy rain causes 1.9% construction output fall

Hopes remain undampened of a resi-led recovery this summer
5 days ago

Taziker restruture to return to profitability after £1.2m loss

Founders bought the business back from private equity after last year's loss
5 days ago

£220m London wharf homes scheme approved

285 homes to be built beside protected Albert and Swedish Wharves in Wandsworth
5 days ago

Major project veteran named civils director for Sizewell C

David Speight previously worked on Hinkley, Heathrow and HS2 client teams
5 days ago

Morgan Sindall lands £19m Milton Keynes hospital job

Crane lifts to be carefully co-ordinated to ensure air ambulance remains active
6 days ago

Clancy bolsters civils leadership team

Daniel Tonkin and Simon Hyams join as operation directors of water and infrastructure
6 days ago

Balfour names new project boss for HS2’s super-hub station

Steve O’Sullivan replaces Nigel Russell who was promoted to CEO of Balfour's HS2 ops
6 days ago

Contractor services