The search has begun for a development partner to lead the flagship redevelopment of Crompton Place in the heart of Bolton Town Centre.
The project will deliver a vibrant, residential-led mixed use development including hotel, office and commercial space, surrounded by the town's rich heritage assets, vibrant amenities, and excellent transport links.
The successful bidder will also be expected to improve public spaces and reintroduce a direct pedestrian route between Victoria Square and Bradshawgate.
The council has issued a tender notice using the new competitive flexible procedure under the Procurement Act 2023.
This will be the second significant step forward following the application to demolish the former shopping centre, which the authority purchased in 2018 as part of its town centre regeneration masterplan.
Pending planning approval later this year, demolition is expected to take just 50 weeks and be completed in a single phase.
The council is working with leading real estate advisors CBRE to deliver the successful transformation of Crompton Place.
Bolton Council Leader, Cllr Nick Peel, said:
“Crompton Place represents a once-in-a-generation opportunity, and we look forward to welcoming the right development partner to take the transformation of Bolton to the next level.
“We continue to see the successful delivery of regeneration projects in the town centre and across the wider borough, including Neighbourhood Moor Lane, Deansgate Gardens and the first phase of Church Wharf.
“Having now launched this procurement opportunity on Crompton Place we are sending a clear signal that Bolton means business.
“We are confident that investment in the site will attract even more developers to other parts of the town centre.”
CBRE Executive Director, Adam White, said:
“This is another significant step forward to find a best-in-class development partner to deliver a high-quality, inclusive, residential-led mixed-use scheme.
“The council has a proven track record in securing public sector financial support; and Crompton Place is a vital component of the Greater Manchester Combined Authority's £10 billion investment plan.
“The council will be procuring its development partner with the support of CBRE, Trowers & Hamlins, and KPMG.”