Bolton's Crompton Place sold as part of wider regeneration plans
Crompton Place shopping centre has been acquired by Bolton Council for £14.8m in what has been described as an “opportunity for transformational change” in the city.
The shopping destination, home to 46 retail brands including Blue Inc, JD Sports, Select and Primark, is central to the council’s town centre regeneration masterplan and is likely to be revamped over the coming year.
Property management company JLL will continue to run the centre, which was previously owned by Santander pension fund.
Leader of Bolton Council, Cllr Linda Thomas said: “Bolton is following the example of many other local authorities across the country that have also invested in their local shopping centres to deliver regeneration schemes.
“There will be no changes in the day to day operation and running of the shopping centre in the immediate future, to ensure it continues to operate smoothly for tenants and shoppers.”
Over the coming months, detailed ideas for regenerating the centre will be developed and in the long term council chiefs envisage building a completely new centre.
The 280,000 sq ft shopping destination is located in the heart of Bolton, and forms part of the area that has been earmarked for regeneration by the council. The purchase was funded from the council’s £100m town centre fund.
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