CAPITAL&CENTRIC are set to transform Stockport’s historic Weir Mill as part of Stockport’s Mayoral Development Corporation’s ambitious plans for the town centre.
Social impact developer CAPITAL&CENTRIC has completed the purchase of the historic Weir Mill in Stockport town centre, with plans to create a thriving new mixed-use community.
In their first foray into the town, the £60m project will create around 250 apartments across the restored mill buildings and some new build.
Located alongside the town’s iconic viaduct, the site includes a number of grade two-listed mill buildings, some of which were originally built in the late 1700s, used over the years for a variety of commercial purposes.
The new scheme will incorporate a frontage onto the River Mersey, opening up public access to the waterside. There are also plans for ground floor commercial spaces complementing the residential offering, including café-bars, delis and independent shops and surrounding courtyards and green spaces.
Tim Heatley, co-founder of CAPITAL&CENTRIC said:
“It’s the buildings like Weir Mill that give a town its character. To save these amazing mills we have to find viable long term uses for them. By developing a new community we’ll not only be creating some incredible places to live but we’ll be opening up access to the waterside for everyone.
“Town centres are changing and it’s places like Stockport that are rising to the challenge with ambitious regeneration plans. With easy access into Manchester and a stone’s throw from the Peak District, Stockport town centre is becoming a really exciting alternative to city living. I’m a huge fan of Stockport Exchange which has really raised the bar and encouraged people like us to invest.
“Times are tough but regeneration projects will be an important part of Greater Manchester’s recovery. We’re hugely excited to be coming to Stockport and this deal shows how much confidence we have in the town.”
Sitting within the new Mayoral Development Corporation’s (MDC’s) Town Centre West regeneration zone, the Weir Mill site will be adjacent to a brand new £120m transport interchange and backed by £7m of Housing Infrastructure Fund money from Homes England. A planning application is expected later in the year.
Stockport Council Leader, Councillor Elise Wilson said:
“Attracting such a forward thinking and innovative developer as CAPITAL&CENTRIC is indicative of the continued confidence that major investors and developers are demonstrating in Stockport.
“While our efforts are currently focused on combating the impact of the coronavirus crisis, we need to keep looking to the future which is why we welcome this latest investment. This neglected but iconic building will be an important and key early scheme to be delivered within the new Town Centre West neighbourhood, setting the scene for our ambitious plans to regenerate and transform the wider town centre. I look forward to seeing Weir Mill brought back to life and attracting more people to live in our town centre.”