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Construction work has begun on the fourth phase of development at Stockport Exchange, the new town centre business hub being delivered by Stockport Council and Muse Developments.
Contractors on the scheme, Galliford Try, have started work that will add a third Grade A office building, totalling 64,000 sq ft of floorspace, and a 399-space multi-storey car park to the development. Previous phases of the development have already attracted national and international firms such as BASF and Stagecoach, as well as home-grown Stockport businesses musicMagpie and ONP to the town centre.
The latest phase of the scheme has been brought forward after the success of previous phases of building and thanks to £4.2 million of funding from the government’s Getting Building Fund, aimed at kickstarting the construction sector after the Covid-19 pandemic. Evergreen funding through GMCA will also be used for solar PV panels on the rooftops of buildings will also ensure the scheme is delivered in line with Stockport’s Climate Action Now commitments; the multi-storey car park will also feature EV charging points, solar panels and a green wall to mitigate its environmental impact.
Tom Webber, senior development surveyor at Muse, said:
“As a business, we’re proud to reach a point in the Stockport Exchange story where we’re seeing our collective vision for a diverse business community coming to life, with a number of high-profile businesses calling the scheme home.
“Over the coming months, the place will be a hive of activity as we deliver two further buildings within the masterplan, as we continue to deliver catalytic regeneration with our progressive partner in Stockport Council that drives growth and prosperity to benefit the proud people of Stockport, while promoting wellbeing, sustainability and active travel to create a place fit for the future.”
Leader of Stockport Council, Cllr Elise Wilson, said:
“I am delighted that work on the next phase of Stockport Exchange has begun on site. Stockport Exchange has been a game-changer for our town, and this next phase is a testament not just to the success of the development but also the demand from businesses for good quality offices in a prime location.
“This announcement shows how ambitious we are for Stockport! It comes at the same time as we progress other vital projects, like our new transport hub, Weir Mill and continue to invest significantly to improve Merseway and the Underbanks, which will benefit the whole of the borough to make Stockport a better place for us all.”
Cllr David Meller, cabinet member for economy and regeneration, said:
”Confidence in Stockport from the private sector continues to grow and I am thrilled to see the next phase of this popular development get underway, on the back of welcoming ONP last week. Stockport Exchange has established itself not only as a high-quality destination regionally but also able to provide opportunities for relocation outside of London. It continues to attract new businesses and major employers, creating jobs and putting us on the map as a great place to live, work, play and connect.”
Darren Parker, managing director for Galliford Try Building North West, commented:
“Galliford Try is delighted to be commencing work on Stockport Exchange Phase Four in partnership with Muse Developments and Stockport Council. The commercial office market remains an important sector for our business and our Sustainable Growth Strategy, and we look forward to building on our long-term relationship with Muse by delivering a high-quality regeneration project for Stockport Council.”
Stockport Exchange is the £145 million flagship commercial development within the town centre’s £1 billion regeneration plans, and so far includes a 115-bedroom Holiday Inn Express, a 1,000-space NCP multi-story car park, as well as two striking office buildings totalling 120,000 sq ft with ground-floor retail as well as landscaped public realm. Once complete, the scheme will have delivered up to 375,000 sq ft of office space and 28,000 sq ft of commercial floor space.
Cushman & Wakefield and CBRE are acting as joint agents for the office space.