Genr8 secures £100m for Rochdale scheme

PLANS for a major town centre redevelopment in Rochdale have been backed by a £100m commitment from a Japanese property investor.

Rochdale Borough Council’s regeneration partner, Manchester-based Genr8 Developments, has struck a deal with Kajima Partnerships, a subsidiary of Japan’s Kajima Corporation.

Plans are now being drawn up for a £150m project that will include a new 80,000 sq ft supermarket, a department store, retail outlets and a hotel. New leisure facilities and improved car parking will also be added.  

The proposals will go out to public consultation before being submitted to the council next year. The scheme is part of a wider £250m redevelopment of the town.

Mike Smith, partner at Genr8 Developments, said: “We have been looking to work with Kajima for some time and it was really a question of finding the right project on which to collaborate.

“We believe that our respective skills are ideally suited to the Rochdale Town Centre regeneration and the partnership will now be working hard to bring our proposals to fruition.”

Julian Rudd-Jones, Managing Director of Kajima Partnerships said:
“Kajima Partnerships has a long and successful track record of investing and developing in real estate in partnership with the private and public sectors. We look forward to working in Rochdale with Genr8 and our clients to revitalise the town centre.”

Council leader Irene Davidson said: “This is another important milestone for Rochdale town centre, with construction of the Sixth Form College completed, the building of the new civic offices underway and the Metrolink due to arrive in the town. We very much welcome the funding partnership and we look forward to working with Genr8 to progress a scheme through to planning application stage.”

If approved, the scheme could be finished by 2014.