Bury council is set to buy the Longfield Shopping Centre in Prestwich as part of a major regeneration scheme.
The authority is believed to be in talks over a multi-million deal with current owners Hollins Murray Group, who have had the site since 2007.
The purchase will mean that the council can demolish the ageing building and replace it with new housing, shops or offices as part of the regeneration scheme in the area.
A report on the sale will go to the council’s cabinet tonight (Wednesday) and proposes that the authority buys the precinct and forms a joint venture (JV) with Muse Developments.
Muse have long been a part of the Prestwich regeneration project and have been involved in previous plans to overhaul the shopping centre.
Coun Eamonn O’Brien, leader of Bury Council, hailed the deal as a huge step forward in plans to improve Prestwich.
“This will be the single biggest breakthrough in a decade, removing one of the biggest roadblocks to the regeneration of Prestwich," he said.
“The Longfield centre was built 50 years ago and is no longer fit for purpose. Until now, we have been limited in what we can do because we do not own the site. Buying the centre removes that obstacle, and also gives us more influence on what is created there.
“This should ultimately deliver a much needed boost to the local economy with high quality commercial spaces for independent businesses, a new library, community space and public service hub, and excellent outdoor space and public realm. We also think we can deliver some green housing and apartments on the site.
“It will also be a catalyst in helping Prestwich thrive post-Covid, and complement our ongoing plans to regenerate other town centres in Bury, Radcliffe and Ramsbottom.”
If the deal gets the green light from the council's cabinet, it is expected to be completed within the next three or four months.
That will be followed by planning for the site and a public consultation before any work goes ahead.
Phil Mayall, regional director at Muse Developments, added: “We’ve been working with our partners at Bury Council for a number of years to bring this to fruition and we’re delighted to reach this significant milestone.
“We’re looking forward to taking the next steps and engaging with both our partners and importantly the local community to bring these exciting proposals to life. Together, we’ll repurpose and re-energise this area of the village, drive inward investment into the local economy, create opportunities to benefit the community and create a long-lasting positive legacy.”
