Warrington council is bucking the trend and pushing ahead with plans for a major town centre regeneration.
Development in the regions has all but dried up since the onset of the credit crunch, but this week Warrington shortlisted five developers for its £200m, Bridge Street Quarter project.
CTP, Muse Developments, Cityheart and St Modwen are among the parties shortlisted for the 16-acre Cheshire town opportunity. The site, which adjoins Lend Lease’s 675,000 sq ft Golden Square shopping centre, includes Times Square and the council-owned indoor market. The council envisages a major office development, including a 70,000 sq ft civic headquarters, a cinema, a hotel, and a new 50,000 sq ft indoor market.
The development agreement will run for 15 years, with the possibility of a five-year extension. Bids must be self-financing, with the council contributing the site and information resources.
The council is being advised by Warrington & Co, an urban regeneration partnership formed by former CB Richard Ellis North West director Charles Goodall and HBG Properties regional director Clive Perrin.
A preferred developer is expected to be selected within the next few weeks.
paul.norman@estatesgazette.com
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