A development agreement has been reached for Stockport’s new ‘Office Quarter’.
Stockport Council and Muse Developments have signed and sealed a Development Agreement, marking an important milestone in the development of a high-specification office quarter, next to the train station in the town centre.
The Council bought the Grand Central site last year to bring forward the office-led development, including hotel and improved car parking, as well as an attractive new gateway to the town centre.
National development and regeneration specialist Muse Developments were appointed by the Council as development partner to deliver the project.
Phase One consists of a new 1,000 space multi-story car park and a range of highway improvements, due to be completed at the beginning of 2014.
The new car park will meet increasing demand for parking next to the railway station and encourage more people to take the train. A temporary parking solution for commuters will be provided during its construction.
Phase Two has been masterplanned for the first commercial office building, new public space, a hotel and highway improvements by 2015.
Phase Three will include further office buildings, extension of the open space and further improved accessibility for pedestrians on a phased basis up to 2020.
Councillor Iain Roberts, Executive Member for Economic Development and Regeneration at Stockport Council, said: “The signing of the Development Agreement confirms both parties’ commitment to delivering a cutting-edge new office quarter and commuter destination for Stockport. It is a crucial part of our overall vision for the town centre – attracting jobs, investment and footfall. We’ve worked hard to make sure that it’s self-financing and at no extra cost to the Council-tax payer.”