26 November 2009
Developers sought for Ancoats
A new drive to attract further businesses and developers into
Ancoats in east Manchester has been initiated by the NWDA.
Opportunities will be explored to rent or sell existing
buildings and to redevelop cleared sites which are not already
linked to a developer.
Lambert Smith Hampton will work with the NWDA and urban
regeneration company New East Manchester to market the vacant land
and property which, including projects already in the pipeline, are
worth over £8 million.
All redevelopments will be high quality in line with the vision
for the £400million regeneration of Ancoats.
Paul Lakin, Director of Land and Property at the NWDA,
said:
“Ancoats is a priority for the NWDA, we have already invested
£71million and the private sector has committed £220million so
far.
“During the economic downturn it is vital for us to maintain
momentum in Ancoats and LSH will work to attract high quality
developments and private sector investment.
“We already have a significant number of residents and businesses
in the regeneration area, the intention now is to attract greater
life and revenue into the area over the next few years.”
As the birthplace of the industrial revolution Ancoats has a
unique heritage which has been recognised through designation as a
Conservation Area. The regeneration of the area has been led by
partners including the NWDA, New East Manchester and Manchester
City Council.
Eddie Smith, chief executive of New East Manchester said:
“Ancoats has undergone a tremendous transformation over the past
decade but there is still enormous potential to attract more
residents and businesses into this important part of east
Manchester, which benefits from its proximity to the city centre.
This work will enable the area to be best placed to recover quickly
when the market starts to improve. This is an excellent example of
the public and private sector working together in an effort to
accelerate the regeneration process during these challenging
times.”
Work will initially focus on letting empty properties to
increase foot fall, which will stimulate the area’s vitality and
make it more attractive to the private sector.
Peter Skelton, Head of LSH Manchester, said: “We are
optimistic about the future prospects for the area.
“Ancoats is ripe for investment and, with a pro-active disposal
strategy and careful exploration of emerging opportunities we
believe we can assist in improving the overall performance and
appeal of the area.”
As confirmed by an independent evaluation*, significant progress
has been made with many sites in Ancoats acquired and primed for
redevelopment, some already completed and with many new businesses
and residents in place.
As a result of the global economic downturn, some development
projects have stalled prompting the NWDA to respond with
environmental and security improvements.
Cutting Room Square was officially opened with a community event
in the summer and over the last few months seven derelict sites
across the Conservation Area have been cleared and resurfaced with
green slate chippings.
New fencing has been erected as well as hoardings bearing
messages directly supplied by local Ancoats businesses. A new CCTV
scheme will be installed later this year and a Business Watch
scheme has been established in partnership with Greater Manchester
Police.
Flint Glass Wharf, a development overlooking the Rochdale Canal
consisting of 136 apartments and penthouses with some
commercial/retail units, was completed in August. And at George
Leigh Street, Jersey Street and Radium Street the tarmac footpaths
and roadways are being replaced with Granite sets and York stone
flags. This will be completed by Christmas.
Ends
Some of the vacant properties are: 46 Radium Street, 27 Blossom
Street, 2-6 Loom Street and Jactin House.
*The Ancoats Regeneration Programme: Evaluation Report concluded
that the NWDA’s investment had supported a 22 per cent rise in
employment for the area, levering in £126million private sector
investment. The evaluation acknowledged that with the NWDA’s
investment and leadership, the project would not have happened.
In 2002, the NWDA undertook an eight hectare Compulsory Purchase
Order – the first ever CPO by an RDA – to regenerate scores
of derelict cotton mills into a thriving business and residential
area fit for the 21st century, whilst preserving its rich
architectural heritage.
To date, the Agency has committed £71million to transform
Ancoats into a vibrant urban village which is well on the way to
levering in private sector investment of £330 million. Plans are to
provide 1,800 residential properties, 60,000 square metres of
commercial floorspace, create 1,900 new jobs and transform the
eight hectares of derelict or underused brownfield land.
For further information please contact Sam Shale, Press Officer, on
01925 400264 or 07717 427872 or sam.shale@nwda.co.uk
For urgent out of hours press enquiries please call 01925
400259.
For further information and to view all press releases visit us
at www.nwda.co.uk/press
The Northwest Regional Development Agency works to deliver
economic success in England’s Northwest by building the
competitiveness of businesses, people and places. Our strategic
influence on transport, housing and economic planning helps to
deliver high impact projects that will enhance the quality of life
for people living in, working in or visiting the Northwest.
Lambert Smith Hampton (LSH)
LSH is a leading commercial property consultancy with an unrivalled
national network focused on the UK and Ireland property
markets. Its expert teams deliver a full spectrum of
transactional and consultancy services and business-driven
solutions for clients.
Contact Nicola Hardy, Marketing and PR Executive for Lambert
Smith Hampton, on 07702 883463.