The Greater Manchester town of Stockport has been earmarked for its biggest regeneration project yet, as it expands to become one of the North West’s most exciting investment locations.
Stockport’s vision to create a hive of sustainable communities within a dynamic, green and liveable town centre is already well underway, with many parts of the popular Greater Manchester town already transformed as part of a £1bn masterplan.
But many of the regeneration plans are still in their relatively early stages, making Stockport one of the most promising towns in the North West for property investors seeking to stay ahead of the market and buy in an up-and-coming location.
The latest project revealed by the council is a huge strategic regeneration framework comprising 280 acres of land in the eastern part of the town centre, which has set out to create 4,000 new homes right in the heart of Stockport.
The new Town Centre East regeneration project rivals the Town Centre West plan, which is already underway, being more than twice the size of it in terms of land area, and will make up the next phase of the £1bn cash injection going towards transforming the town.
Town centre living in Stockport
One of the aims of the ongoing investment and redevelopment is to get more people living in the town centre in a sustainable, affordable and accessible way, and this is a key part of the new Town Centre East vision, which stretches eastwards from Wellington Road North to St Mary’s Way and northwards from Hempshaw Lane to the M60.
Thanks to its ideal location just minutes from Manchester city centre by train, as well as its thriving jobs market and amenities in its own right, Stockport has become increasingly popular in recent years among a vast range of people, from young professionals and graduates to families and older people.
Compared with Manchester, the town offers much more affordable property prices and rents, yet with excellent prospects for house price rises thanks to future investments in the area. This rise in the town’s projected population goes hand-in-hand with the residential focus of the latest projects.
Cllr Mark Hunter, Leader of Stockport Council, said: “The progress we have made has been incredible and continues at pace.
“This latest milestone [the launch of the Town Centre East opportunity] will build on the great work that we have already achieved and take this exciting next phase forward.
“With thousands of much-needed new homes already created, as well as the new Interchange and town centre park for residents to enjoy, the potential and vision in Stockport is unmatched.”
Stockport Town Centre East: Stockport Council and MDC tender documents
Milestones already achieved
Earlier this year, the biggest evidence of the promised £1bn masterplan came in the form of the opening of the multi-million-pound state-of-the-art Stockport Interchange. The transport hub’s goal is to encourage more people to use public transport or active travel as opposed to cars, adding to the future sustainability of the city.
With 18 bus stands offering 164 departures an hour, the interchange is expected to form an integral part of Greater Manchester’s Bee Network, with buses set to come under local control from January next year. It also offers a walking and cycling route across the town, making access easier for all.
Speaking on the new interchange at the time, Mayor of Greater Manchester Andy Burnham said: “Stockport now has an absolutely world-class transport interchange that will play a key role in bringing prosperity to the town and its people in the future.
“Safe, reliable and affordable public transport and active travel facilities are central to improving life for people and businesses in Greater Manchester and I have no doubt this impressive new interchange will do just that.”
Around 1,200 new homes have already been delivered through the Town Centre West initiative in the town, with another 1,500 in the pipeline, and the latest phase is expected to build on this success while attracting greater levels of investment.
BuyAssociation has a number of property investment opportunities available in Stockport, so get in touch today for more information. You can also browse some of our current projects in the most lucrative parts of the UK here.
