Out-Law News | 19 Nov 2014 | 4:54 pm | 1 min. read
According to a Council statement, the masterplan proposes the comprehensive regeneration of the area surrounding the Oldham Mumps Metrolink light rail stop into a mixed-use development to be known as 'Prince's Gate'. The plans include a total of 150,000 square feet of new retail space, up to 800 homes and around 700 car parking spaces.
The Council confirmed that discussions had been ongoing with retailer Marks and Spencer (M&S) since 2011 over opening a food and clothing store at the development. The masterplan proposes a 51,000 sq ft M&S store within a 117,000 sq ft glazed retail development at the site of an existing park and ride. The park and ride would be relocated under the plans and 200 new underground car parking spaces would be provided underneath the retail development.
A Grade II-listed former Natwest bank building would be refurbished under the plans to provide apartments, cafes, bars and leisure facilities. A further 18,000 sq ft supermarket has been proposed at the Roscoe Mill site to the west of Prince Street. Around 50 apartments have been proposed for the upper three storeys of the superstore building and the Council said that "talks with a major supermarket tenant are ongoing".
The Council said that development was expected to create 700 new jobs and contribute "up to £21 million per year to the local economy".
"Our eastern gateway is opening up as a major new opportunity and it's vital we grasp this chance to make the most of our new Metrolink connection, attract new high street names, offer quality town centre living options, and preserve the historic Grade II-listed Natwest bank building for modern use," said Council leader Jim McMahon in a statement.
Councillor McMahon said that development was set to commence in 2015 and that "the next significant phase, including opening the new retail development - and the proposed M&S store - is set for 2017".