Langtree completes on £2m M60 scheme, with more deals in pipeline

Developer Langtree has completed on its deal with retail and forecourt operator Euro Garages for a £2m investment at its Hollinwood Junction scheme on the M60 following the granting of planning permission.

And the developer, which is in a joint venture with Oldham Council to regenerate the 30 acre site, revealed that three more deals are in the pipeline and will be announced “as the year progresses”.

The redevelopment of the former Roxy cinema site will see a new petrol filling station, with a sandwich counter, bakery and small retail offer completing the circa £2m investment.

More than 30 jobs are expected to be created in this first phase.

Overall, the Hollinwood Junction project will see 760 new jobs created and will incorporate retail, leisure, employment and housing uses.

Neal Biddle, group development director at Langtree said: “This transaction will enable Euro Garages to push ahead with its plans and allow us to conclude three other significant transactions that we currently have in the pipeline.

“We’re pleased at the market’s interest in Oldham and look forward to making further announcements.”

Tom Jeremiah, group planning and permit director at Euro Garages, said “We are extremely pleased to have received planning consent for this site and to be part of the wider redevelopment of the area.

“We intend to start development later this year with a view of opening up the new facilities for motorists and local residents by the end of the year.”

Langtree was advised on the deal by Colliers International, JLL and FDR Law.

Euro Garages was advised by DWF Solicitors.