Manchester-based developer, Investar Property Group, has acquired part of the Stockport College campus with plans to create a mixed-use placemaking scheme.
Occupying a prime position on Wellington Road South and Greek Street, the three-acre site was conditionally purchased by Investar Property Group in November 2019.
The plot comprises the 120,000 sq. ft. Torkington building, 63,000 sq. ft. Lyme building and the 26,000 sq. ft. Grade II listed Greek Street building.
Investar has tabled an early-stage proposal to build a mixed-use placemaking development, which has backing from the Stockport Mayoral Development Corporation (SMDC) as part of its Strategic Regeneration Framework for the town.
Named Royal George Village, the proposal would see the creation of a new, inter-generational residential village, new-build homes, a co-working space, commercial/ancillary units and green public realm.
The Torkington building would be converted into 120 apartments with a focus on providing high quality, affordable homes for Stockport residents.
The existing Lyme building will be demolished and a 250 new apartment block will be constructed.
Investar intends to convert the listed Greek Street Centre into a collaborative co-working space for local businesses.
Plans also include provision for another new build block of 55 apartments located on the corner of Greek Street and Royal George Street.
Four existing buildings will be demolished to make way for an underground car park and high quality public realm and landscaping for all residents to interact together.
Investar Property Group is working closely with the SMDC and The Trafford College Group to finalise its vision for the prime site.
In consideration of the relevant Government guidelines and restrictions related to the coronavirus, a virtual public consultation on the information and the plans has been made available via www.royalgeorgevillage.co.uk on Thursday 2nd April 2020.
Planning is expected to be submitted late April 2020, with the aim to go to planning committee in late Q3 2020. Site works will begin in Q1 2021.
Michael Dong, Chief Executive Officer at Investar Property Group, said: “Our vision for Royal George Village is to change the way we think about creating new places to live in the UK. This development will provide a platform for housing, health and business collaboration, to add social value and to forge a real sense of community in a key Stockport location.
“Stockport continues to thrive, and its excellent transport links to Manchester are set to be greatly improved. We welcome the recent announcement by Stockport Council and Transport for Greater Manchester to bid for up to £1bn to deliver an extension of the Metrolink line into the town centre.”
Michelle Leslie, Vice Principal for Corporate Services and Planning at The Trafford College Group commented: “Royal George Village will complement the £23m redevelopment of our campus at Stockport College due for completion in 2021. The redeveloped Stockport College will provide a learning environment that uses the latest developments in digital technology and education.
“Together the two developments will create a new community for Stockport on a site that is at the heart of the town and we look forward to working with Investar to help finalise their vision.”
The Investar team includes DAY Architectural; Buro Happold Engineering; Rider Levett Bucknall; planning consultant WSP Indigo, WSP Transportation, LAYER Studio and Gray Scanlan Hill. JMW Solicitors LLP is supporting on the legals.