Stockport College and the Homes and Community Agency (HCA) have announced a deal to turn part of the Wellington Road campus in Stockport into a residential development.
The former St Thomas Workhouse part of the site is sold with vacant possession, some other parts of the campus will remain in operational use and under lease to the HCA for the next 5 years. The sector leading Construction and Engineering facilities at the corner of Wellington Road and Charlesworth Street will remain in College ownership.
The College will now begin work in partnership with Stockport Metropolitan Borough Council on a purpose built secondary campus in the town centre.
Simon Andrews, Principal & Chief Executive of Stockport College, said: “This is another major step forward in the college’s journey to secure outstanding technical and vocational education for the people of Stockport. We are delighted to be working with the HCA and Council to support the regeneration of the town centre and creation of more housing in the borough. This sale transforms the financial fortunes of the College and will allow for a level of investment in our learners, staff, and facilities that has not been seen for a decade.”
Eamonn Boylan, Chief Executive of Stockport Metropolitan Borough Council said: “The Council is pleased to support this transaction as it contributes to our one integrated vision for the physical, social and economic regeneration of Stockport. We look forward to working with the College on the new campus and with the HCA on a landmark residential development.”
The transaction completed on Wednesday 30th March 2016, with Cushman & Wakefield acting as agents, and Eversheds as solicitors, for the College.