Back in the mix

Princes Gate redevelopment area near Metrolink stop at Mumps

PLANS to transform Oldham Mumps with the Prince's Gate regeneration scheme will be given a boost with the council set to choose a private developer to make it happen.

Oldham Council has received ambitious proposals from private investors to take the scheme forward and a report will go before cabinet on Monday. Members will make a final decision on the successful bid, with the selected partner set to be announced in July.

It follows a blow to the scheme in November last year when Marks & Spencer withdrew its plans to open a department store as part of the Prince's Gate mixed-use site, which was also set to include retail and residential opportunities when it was announced in 2014.

Council officers have been in dialogue with interested parties about a revised scheme for the site since the M&S announcement and three food retailers have expressed a strong interest.

The plans also include a 68-bed hotel and a 206-space car park.

Further details have not been released due to commercial sensitivity.

Jean Stretton, Oldham Council leader, said: "This is fantastic news for Oldham. The reason we looked to deliver this vision ourselves - as with the Old Town Hall development - was because of the importance of this site as a major gateway to Oldham town centre.

"It's fantastic to see that our vision has inspired others and we now have offers on the table to deliver it in partnership with the council.

"This really shows that Oldham is open for business and is continuing to attract inward investment. This ultimately also allows us to get the very best value for taxpayers' money in delivering the scheme.

"We look forward to unveiling details of the winning bid - which is evaluated against a number of important factors which include benefit to local people, firms and economy - in July.

"This is set to be a key redevelopment project for Oldham and is another exciting step forward in transforming our town centre."

The retail area of the development was originally used as a Park and Ride by Transport for Greater Manchester's Metrolink.

However, following the completion of a replacement two-storey car park on the opposite side of the tram tracks, a land-swap agreement with Oldham Council was completed for the site earlier this week.

The report also states that plans for the area of the Prince's Gate development bounded by Rhodes Bank, Roscoe Street and Prince's Street, will change from a mixed foodstore and residential site to entirely residential.

However an appraisal of the options is required and yet to be commissioned.

The original scheme, which proposed the conversion and extension of the Grade II listed bank building for residential use is not set to be altered in the report.

The scheme would seek to develop 46 new apartments for private sale or rent.

Currently a six months exclusivity agreement has been given to a private developer to review the development.