Ask Real Estate pulls out of Macclesfield’s Churchill Way plan
Ask Real Estate has decided not to proceed with its planned development on Macclesfield’s Churchill Way.
It follows detailed consideration, especially around the ongoing challenges in the food and beverage sector.
The project involved a conditional land sale between Cheshire East Council and Ask Real Estate, subject to Ask gaining planning permission.
A spokesperson from Ask said: “Despite the positive attributes of Macclesfield as a location, given the significant downward shift in the food and beverage sector nationally, we have decided not to proceed with our Macclesfield scheme.
“We have not taken this decision lightly. However, with investor sentiment pushing down pricing in the sector, which is beyond our control, we are unable to progress.”
The outline proposals envisaged a six-screen cinema, restaurants, a retail unit and a café pod, designed around an area of quality public realm.
Ask was selected following a thorough marketing and assessment process and was one of 19 offers submitted.
Cllr Ainsley Arnold, Cheshire East Council cabinet member for housing, planning and regeneration, said: “While I appreciate that this is disappointing news, to myself and many residents of Macclesfield, the challenges Ask have faced in making this scheme viable are understood in the context of the significant downturn in the market.
“The difficulties of others letting similar schemes across the country are well documented and it is regrettable, but understandable, that Ask and their funders have made the decision that this specific development is not deliverable.
“Macclesfield town centre is performing better than many at this time of significant challenge to the traditional British high street. At the last count, vacancy levels were below the national average and well below the average for the North West.
“With the advent of high-speed rail services, we are confident about the future of the town and the private sector is demonstrating equally high levels of confidence in Macclesfield as a place to invest in.”
He added: “The expansion of the Grosvenor Shopping Centre is nearing completion and the number and variety of the town’s many unique and high-quality independent shops continues to grow.
“The council has invested significantly in enhancing the public realm across Macclesfield and we will continue to engage with our partners, stakeholders and local MP to support the vitality of Macclesfield as a great place to live, work and visit.”
