Over 1000 jobs to be created by ‘ambitious’ Oldham town centre redevelopment

A plan to reinvigorate Oldham with an eight-figure boost for the town’s economy and hundreds of new jobs is moving forward.

A consultation process on 21 acres of Oldham town centre that will lead to a marketing exercise to secure a development partner were approved at an Oldham Council cabinet meeting this week (July 10).

A new masterplan for the redevelopment covers five co-located sites, 95% of which are owned by the authority, and complements the recently agreed Cultural Quarter programme.

An estimated 560 full-time jobs will be created in the construction period, followed by up to 700 employment opportunities once the development is complete.

The transformation will bring forward a residential strategy supported with up to 592,034 sq ft of new and refurbished employment, retail and leisure space, as well as a hotel, multi-agency civic hub and parking facilities.

The project is forecast to generate an additional £50m per annum for Oldham’s economy.

Following the consultation, the council will look to engage a 50/50 joint venture partner on a profit share basis.

Cllr Jean Stretton, Leader of Oldham Council, said: “Many positive regeneration schemes are already improving our town centre like the Old Town Hall, the Cultural Quarter with a new Coliseum Theatre, and the Independent Quarter and this proposal builds on that legacy.

“This is one of the biggest and most ambitious town centre schemes in Greater Manchester. It is about agreeing the type of place we want Oldham to be and having a clear plan to achieve it. The plan will be shaped and refined further as residents, partners, business and traders have their say in extensive consultation over the coming year.”

She added: “The plan looks to improve connections in and between different sites so that footfall and movement works better. It also strives to increase town centre resident, visitor and user numbers to make it a place that thrives round the clock.”

Tom Stannard, the authority’s Director of Economy and Skills, commented: “We have been working on the masterplan for the town centre redevelopment for some time and it’s great that we have approval to take this to the next stage.

“We’re really keen to hear ideas from potential partners as to new ways that they may wish to structure a joint venture and work alongside us on funding options.”

He continued: “This is the biggest development undertaking in the council’s history and given a lot of the land is already in our ownership, I see a great opportunity to make things happen quickly after the consultation period.

“We had a great reception to our draft proposals from the development community at MIPIM this year, and I am looking to build on those conversations.”

The masterplan was prepared by architectural practice Leach Rhodes Walker in collaboration with the council.

A preferred partner is expected to be chosen in late Summer 2018. Work on the development will last from 10 to 15 years and start Spring 2019.