New analysis has shown the £1bn masterplan to transform Bolton town centre will not be affected by the Covid-19 pandemic - and remains on course to be completed by 2030.
The investor prospectus by Deloitte show socio-economic changes caused by the health crisis have been accommodated by Bolton Council and its development partners, and that work to six landmark mixed-use schemes will still be finished on time.
Those schemes under the 'Vision 2030' programme are at Trinity Quarter, Church Wharf, Crompton Place/Bolton Victoria Square, Croal Valley, Cheadle Square and the new Blackhorse Street-Bolton Digital City.
The research commissioned by the council shows how the programme will address the change caused by the pandemic - and allow the town to fulfil its economic potential "in the next decade and beyond".
Scroll down to see details of the six schemes
Deloitte said Bolton’s town centre schemes “present an opportunity for remodelling the urban environment to better meet the demands and needs of a post-Covid society”.
The report said the mixed-use nature of the six schemes will contribute to Bolton’s economic recovery by providing the infrastructure required by people increasingly wanting to work, shop and play local post-Covid-19.
Bolton may benefit as "going local" presents future opportunities, it said, adding: “Town centres may become home to new spaces offering touchdown space for working collaboration, providing an alternative to both travelling to the regional centre and traditional office space.”
The diverse and flexible nature of the schemes that will deliver offices, co-working space, homes, retail and leisure over the next decade allows Bolton Council and its partner developers to accommodate widespread socio-economic change caused by Covid-19, such as:
• providing purpose-built large office floorspace to accommodate pandemic workspace guidance such as social distancing
• including co-working space to reflect increasingly agile and flexible working trends
• reducing retail floorspace and diversifying the high street offering
• providing homes in close proximity to services, retail and workspace
• improving public open space and increasing cycle routes and storage
• meeting an increased need for digital opportunities by creating a ‘super-connected digital city’ including a digital hub ‘where businesses and people can thrive’
• providing new and improved town centre attractions to attract people to an enhanced cultural offering
By 2030, Bolton’s regeneration programme will have provided 1,700 homes and 4,411 full-time equivalent jobs, injecting £487.5m of gross value added of additional economic activity.
The council also forecasts an increase in the town centre population from less than 2,000 to more than 6,000 and an additional £48.7m of household spending, an annual boost of £7.3m to the visitor economy, helped by more green space and improved connectivity including four cycle schemes in the GM-wide Beeline network.
Bolton Council is also progressing multi-million pound bids to the Government’s Future High Street Fund and Towns Fund, contributing a potential £75m to regeneration projects across the borough.
Simon Bedford, partner at Deloitte and head of the firm’s local government development team, said: “Bolton Council remains committed to delivering its plans for a redeveloped town centre and continues to engage with developers and investors to understand the implications of the pandemic on committed and emerging schemes within the six identified opportunity areas.
“Local retail centres will have a role in driving future economic recovery as consumers increasingly choose to buy local, supporting local businesses and supply chains post Covid-19.”
Councillor David Greenhalgh, leader, Bolton Council said: “The flexible and adaptable nature of our six mixed-use schemes, and the commitment of our developer partners, means we remain on course to deliver a transformed town centre by 2030.”
