A SHOPPING mall is set to be demolished this year as part of redevelopment of the town centre.
The bulldozing of Crompton Place Shopping Mall in Bolton, Greater Manchester, will take 50 weeks and be completed in a single phase.
The council submitted plans to use the newly cleared space for public performances, events and pop-up markets[/caption]
Crompton Place shopping centre was built in 1971[/caption]
The work will re-establish a direct link between Victoria Square and Bradshawgate.
Crompton Place shopping centre was built in 1971 and was bought by Bolton Council for £14.8million in 2018.
The authority enabled leaseholders to relocate so demolition work could start.
The council submitted plans to use the newly cleared space for public performances, events and pop-up markets.
It said the “vibrant” area will continue to attract visitors to the town centre during the period between demolition and the start of new developments.
A developer is still being sought by the council to transform the area once demolition is complete.
Bolton Council leader Nick Peel said: “This demolition plan marks the start of a truly transformational project in the heart of Bolton town centre.
“Last year saw several regeneration projects successfully delivered, but the start of work on Crompton Place sends a clear signal that Bolton means business.
“We have already had significant interest in the site, and we are confident that investment in the site will attract even more developers to other parts of the town centre.”
CBRE is helping the council to find a development partner.
CBRE Executive Director Adam White said: “Situated in the heart of Bolton town centre and surrounded by the town’s rich heritage assets, vibrant amenities, and excellent transport links, the Crompton Place redevelopment is a cornerstone of the council and the Greater Manchester Mayor’s place-based regeneration strategy.
“The council is committed to enabling the site by facilitating the complete demolition of the outdated shopping centre and is seeking a best-in-class development partner to deliver a high-quality, inclusive, residential-led mixed-use scheme.
“The council has a proven track record in securing public sector financial support; and Crompton Place is a vital component of the Greater Manchester Combined Authority’s recently announced £10billion investment plan.
“The council will be procuring its development partner with the support of CBRE The final business left in Crompton Place closed its doors for good on March 1, the watch repair shop, TimePiece, which had been in the building for 19 years.”
Why are retailers closing shops?
EMPTY shops have become an eyesore on many British high streets and are often symbolic of a town centre’s decline.
The Sun’s business editor Ashley Armstrong explains why so many retailers are shutting their doors.
In many cases, retailers are shutting stores because they are no longer the money-makers they once were because of the rise of online shopping.
Falling store sales and rising staff costs have made it even more expensive for shops to stay open.
The British Retail Consortium has predicted that the Treasury’s hike to employer NICs from April 2025, will cost the retail sector £2.3billion.
At the same time, the minimum wage will rise to £12.21 an hour from April, and the minimum wage for people aged 18-20 will rise to £10 an hour, an increase of £1.40.
In some cases, retailers are shutting a store and reopening a new shop at the other end of a high street to reflect how a town has changed.
The problem is that when a big shop closes, footfall falls across the local high street, which puts more shops at risk of closing.
Retail parks are increasingly popular with shoppers, who want to be able to get easy, free parking at a time when local councils have hiked parking charges in towns.
Many retailers including Next and Marks & Spencer have been shutting stores on the high street and taking bigger stores in better-performing retail parks instead.
In some cases, stores have been shut when a retailer goes bust, as in the case of Carpetright, Debenhams, Dorothy Perkins, Paperchase, Ted Baker, The Body Shop, Topshop and Wilko to name a few.
What’s increasingly common is when a chain goes bust a rival retailer or private equity firm snaps up the intellectual property rights so they can own the brand and sell it online.
They may go on to open a handful of stores if there is customer demand, but there are rarely ever as many stores or in the same places.
The Centre for Retail Research (CRR) has warned that around 17,350 retail sites are expected to shut down this year.
