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Ancoats back on track, says new report

Halle could take full-time rehearsal space and more businesses moving in

Published on September 27th 2010.


Ancoats back on track, says new report

The North West Development Agency spent just short of £1m settling compensation claims regarding compulsory purchase orders in Ancoats last year.

The agency’s latest annual report into Ancoats said that during the 2009/10 financial year, it reached agreement with landowners of sites at the junction of Loom Street and Sherratt Street; Hood Street; New Little Mill and 64a Jersey Street.

‘As a result of settlements, the risk to the agency of having to find £6.5m of compensation has now been removed,’ said the report.

The £43.5m CPO, which began in 2002, covers 197 individual plots, which led to 45 development plots being defined and of which 22 have now been completed.

The NWDA has committed £28m to seven projects in Ancoats: gap funding at Royal Mills (£9m) and the Ice Plant (£3m), match funding for Murray’s Mills (£5m) and a relocation package for Howarth Metals (£4M) all complemented by a programme of public realm works (£6m) and other (£1m).

A further £15m has also been leveraged from Lottery or European funding.

The report also gives an update on some of the most recently completed schemes in Ancoats. Following a £1m fit-out during 2009/10, ING Real Estate has launched 25,000 sq ft of commercial space at Royal Mills, in 14 separate office and retail units at the converted Sedgewick Mill.

ING also said it would be ‘repositioning’ Paragon Mill with an emphasis on commercial with ‘a small residential element’.

Work resumed at Ice Plant in February, with developer Northern Group looking to finish the £12m redevelopment of the warehouse to bring 82 apartments into the local market.

There will be five penthouses, including one with a sauna, and five ground level retail and commercial units totalling around 20,000 sq ft. Ice Plant is due for completion in Spring 2011.

Sarah Point on Great Ancoats Street, one of the blighted developments owned by collapsed development company BSC Group, had become ‘Ancoats’ most prominent casualty of the financial crisis’, according to the report.

The site was dormant for two years and was also the scene of a fire but work is due to restart on the scheme ‘in the near future’ after is secured Kickstart funding and was bought by UK Land & Property. That scheme will deliver 166 apartments and around 20,000 sq ft of commercial space. as well Vacant properties at 46 Radium Street, 27 Blossom Street, 2-6 Loom Street and Jactin House are being actively marketed.

The number of employees in the area has increased by 10 per cent since 1999, from 999 to 1,102. Around 154 businesses are currently in Ancoats, of which 38 per cent are within the high value business activities sector; an increase of 28 per cent over the past 11 years.

Fourteen businesses moved into Ancoats in 2009. The majority of new firms locating in Ancoats during 2009 were drawn from the business and professional, plus the digital and media sectors.

The former St Peter’s Church could become the Halle’s permanent rehearsal base, one of a number of initiatives to help drive more footfall in the area.

Due to its abolition, the NWDA’s involvement in Ancoats will end during early 2012, and the agency will hand over its land holdings and responsibilities ‘to a successor body prior to its abolition.’ The agency has set up a transition group to ‘resolve issues and oversee the process’.

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EugeneSeptember 27th 2010.

marvellous news regarding sarah point. The tower part at least looked like it was going to be pretty funky. Hope it actually gets finished

Ali McGowanOctober 28th 2010.

Called up the Ice Plant place yesterday and the developer plans to rent out every single apartment! What a great shame that not one will be available for owner occupiers. Not everyone wants to rent you know...!

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