Following the success of the first two phases, Muse Developments and Stockport Council have submitted a planning application for the next phase of development at Stockport Exchange.
National developer and urban regeneration specialist, Muse, is delivering the £145 million award-winning, mixed-use regeneration scheme in partnership with Stockport Council.
Plans for the next phase will see a new 60,000 sq ft, six-storey, grade A office building developed next to the existing, office One Stockport Exchange. Outline planning approval is already in place for the scheme, with a reserved matters planning application submitted for Phase Three.
The second phase was completed in December 2016 where demand for space within the first office building, One Stockport Exchange, was much higher than it was capable of accommodating and the office was quickly fully let. Re-commerce business musicMagpie took one floor as their new UK headquarters and national bus operator Stagecoach are now occupying the other three floors, moving another 200 jobs into the business district. Sainsbury’s Local and coffee shop Cafelito occupy the ground floor retail space.
“Stockport is amongst the best-placed locations in the region for businesses to locate and grow – with unmatched links to London, Manchester and the motorway network. This is why so many businesses are choosing Stockport as a base, and why Stockport Exchange first phases have proven so successful”, commented Councillor Kate Butler, Cabinet Member for Economy and Regeneration at Stockport Council
At the same time, the 115-bed Holiday Inn Express has received rave reviews from guests and is enjoying occupancy levels of over 90% and set in the new pedestrianised public space outside Stockport Railway Station, creating a new attractive gateway to the town centre. The road layout in the area has also been reconfigured improving access to the station, providing a dedicated drop-off facility and a new taxi rank.
Wes Erlam, development director at Muse, commented:
“The first two phases at Stockport Exchange have been a great commercial success, as well as completely transforming the area around the train station into a welcoming and attractive new public space.
“We’re now looking to deliver a further office building, which will bring more jobs to the area and add to the vibrancy of this new commercial quarter.”
Councillor Kate Butler added:
“To build on this success, we’ve given the green light to next phase of the development. This will continue to further set Stockport apart, creating many new jobs and opportunities from which local people and companies can benefit.”
Work on site is planned for Summer 2018, with completion of Phase Three anticipated in Spring 2020.
The flagship development at Stockport Exchange is part of a £1 billion investment programme currently underway across Stockport. The Council’s ambitious investment programme is transforming the Stockport, building on its strengths and making it even more successful for the future.
The scheme will ultimately deliver up to 375,000 sq ft of office space and 28,000 sq ft of commercial floor space. The first phase of the scheme – a 1,000 space multi-storey car park operated by NCP – was completed in 2014.
Cushman & Wakefield and CBRE are appointed as joint agents for the scheme, which is designed by Aedas RHWL.