Bolton council plans to sell a prime town centre site to a developer to build more than 400 homes and a 120-room hotel. Long held plans to develop the cleared area at Church Wharf have stalled.
The most recent project to develop the area saw the council enter into an option agreement with developer Muse in 2018 for a period of three years and in 2020 the agreement was extended to five years until 2023.
Planning consent for Church Wharf for a development with a mix of 352 homes, cafes, restaurants, offices and other leisure uses was approved in 2019. However, the council said all attempts to bring forward a viable development failed and the agreement is no longer in force.
After seeking a new developer last year, four developers submitted bids based on a conditional land sale, rather than a conditional development agreement. The council now says it wants to sell the land to Watson Homes who intend to bring forward plans to build 417 residential units and a 120-bed hotel across 12 new blocks with work starting in early 2025.
A report go before the council’s cabinet next week, states: “A conditional land sale agreement is therefore currently the only delivery solution for this key regeneration area and aligns with the council’s vision and will secure the redevelopment of the Church Wharf area.
“Delivery of the Watson mixed-use scheme will deliver significant future benefits in terms of investment, employment opportunity, council tax and business rates income.”
The report said that should approval be given next week to negotiate a conditional land sale agreement with Watson, a planning application would be expected by June 2024. The report said that the project would be expected to secure planning consent by August and work would start on site in autumn of this year with activities including site re-mediation, drainage, roads and installation of services.
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Construction would begin in the first three months of 2025 with completion of the Church Wharf development by the end of 2027 or early 2028.
The current Watson proposal will provide 417 homes.
The make up of the development over the 12 blocks would be:
Block 1 – 27 one-bedroom apartments delivered in partnership with a registered provider on a social rent basis.
Block 2 – 50 over 55’s apartments delivered in partnership with a registered provider on a social rent basis.
Block 3 – a 120 bed hotel to be delivered for a hotel group.
Block 5 – 109 apartments – 73 one-bed and 36 two-bed.
Block 6 – Commercial space to be used for retail purposes.
Blocks 7, 8 and 9 – 22 two and three bedroom terraced dwellings for shared ownership.
Block 12 – 209 one, two and three-bedroom apartments to be delivered for private rental sector.
No figures were published in the report to cabinet on how much Watson will pay Bolton Council for the land. However, the report said the conditional land sale agreement will be subject to full financial due diligence on Watson Church Wharf Ltd and their guarantors and the disposal of the land would be conditional on Watson securing full, unconditional funding from a reputable source.
The council would also have a protected right to share in any subsequent increase in value following development.