Green light for next phase of £145m mixed-use regeneration scheme
Plans for the next phase of development at Stockport Exchange, which will see the construction of a 60,000 sq ft six storey office block, have been give the go ahead.
Developer Muse is delivering the £145m mixed-use regeneration scheme in partnership with Stockport Council.
The next phase will see 2 Stockport Exchange developed next to the existing 50,000 sq ft office created during the previous phase of works and builds on the success of the second phase which saw the office space let within six months of completion.
The second phase was completed in December 2016.
Recommerce business musicMagpie took one floor as its new UK headquarters, with national bus operator Stagecoach occupying the other three floors. The ground floor retail space is also fully let, with a Sainsbury’s Local and coffee shop Cafelito open.
The second phase also delivered a 115-bed Holiday Inn Express, which frequently achieves over 90% occupancy, and is trading ahead of forecasts. The new pedestrianised public space outside Stockport Railway Station has also created a new gateway to the town centre.
Wes Erlam, development director at Muse, said: “Securing planning approval is great news and means we can progress our plans for delivering a second office building at Stockport Exchange, which will build on the success of the first two phases.
“Given the shortage of Grade A office space in Stockport and South Manchester, this development means we can provide an unrivalled offer to occupiers, bringing even more businesses and jobs into Stockport town centre.”
Cllr Kate Butler, Cabinet Member for Economy and Regeneration at Stockport Council, added: “Planning approval for the next stage of Stockport Exchange is another great step forward in continuing the transformation already underway in Stockport, bringing even more new jobs and opportunities to our town.
“The quality of the development and Stockport’s position as a leading business location has seen Stockport Exchange quickly established itself as a popular location for companies, and the next stage of development will build on this even further.”
Start on site is planned for Summer 2018, with completion of Phase Three anticipated in Spring 2020.
The flagship development at Stockport Exchange is part of a £1 billion investment programme currently underway across Stockport.
The scheme will ultimately deliver up to 375,000 sq ft of office space and 28,000 sq ft of commercial floor space. The first phase of the scheme – a 1,000 space multi-storey car park operated by NCP – was completed in 2014.
Cushman & Wakefield and CBRE are appointed as joint agents for the scheme, which is designed by Aedas RHWL.
