Plans revealed for Bolton town centre renewal

A consortium including Beijing Construction & Engineering Group International [BCEGI] has agreed terms in principle with Bolton Council to provide £250M funding for the replacement of the town’s Crompton Place Shopping Centre with a new retail and leisure development.

Supported by the Department for International Trade and Greater Manchester Combined Authority, Bolton has agreed terms with Bolton Regeneration, a private consortium fronted by Wilmslow-based investment business Midia.

A formal announcement of the deal with BCEGI is expected in the autumn. The final selection of the preferred investor will be made in conjunction with Bolton Council and its property advisors.

Bolton Council acquired the 26,000m² shopping centre for £14.8M from Santander Pension Fund with the aim of triggering its town centre master plan.

A Midia spokesman said: “This investment is a fantastic opportunity for one of Greater Manchester’s largest towns to establish itself as major player within the Northern Powerhouse.

“Midia has extensive experience in partnering with public sector organisations and we look forward to working closely with Bolton Council to deliver a programme of regeneration that secures long-term economic growth for the town.”