Town centre rent-to-buy housing scheme set for approval

Stockport Council’s Planning & Highways Regulation Committee has been recommended to approve plans for 73 rent-to-buy apartments in the town centre.

Proposals were first lodged by Great Places Housing Group in September 2022 for the scheme that would see a block of 73 affordable homes built on King Street West in Stockport’s Town Centre West regeneration district. The one- and two-bedroom flats would be made available via the government-backed Rent To Buy programme, which sees tenants given the option to save towards a deposit to purchase their home by reducing the rent 80% of market rates for five years.

The proposals are being supported with funding from Homes England and seeks to compliment other proposed developments in the area by adding high-quality affordable homes to the mix. The development will consist of 73 one and two-bed apartments, all of which will be available through the government-backed Rent to Buy scheme.

If approved by councillors, as has been recommended by the Council’s planning officers, the existing car wash site and van depot between King Street West and Bann Street and Gradwell Street will be demolished, and replaced with the four-storey apartment block.

The £16.4 million development forms part of the Stockport Mayoral Development Corporation’s (MDC) Town Centre West regeneration area, which looks to form a new gateway in the town centre with 3,500 homes and more than 1 million sq ft of commercial space.

Great Places’ scheme sits in Stockport MDC’s proposed Brinksway sustainability-focused neighbourhood that will take advantage of excellent nearby transport links at Stockport Railway Station and bus interchange (due to complete in 2024).

Other major housing schemes already underway in the MDC area include the regeneration of Weir Mill, apartments alongside a new transport interchange, and a multi-generational community on the former St Thomas’ Hospital site.

Stockport Council’s Planning & Highways Regulation Committee will meet on 23rd March at 6pm to discuss the plans.