A FLAGSHIP masterplan to develop Oldham Town Centre’s eastern gateway has been hailed as ‘the most significant development for generations’ by Council leader Jim McMahon.
Plans include developing the Prince’s Gate area at Oldham Mumps with new shops, housing and jobs to create a destination full of opportunities for residents, visitors and business.
The project – part of a £100million investment framework for the town – will see retail giants Marks and Spencer (M&S) open their first clothing and food store in the area.
Cllr McMahon, who has been preparing the project for almost four years with council staff, believes this is landmark opportunity to develop the borough.
“Prince’s Gate at Oldham Mumps is all about our aspirations for our future – it is a gamechanger for the new Oldham,” he said.
“It is without doubt the most significant development in Oldham for generations.
“At a time when lots of councils are talking about cuts, Oldham Council is doing something to make a better future for the borough.”
The project will see the redevelopment of redundant land to deliver around 150,000 sq ft of retail space, up to 800 homes and approximately 700 car parking spaces.
The focal point will be a glazed retail development with M&S as anchor tenants, around 200 underground parking spaces, and a further 66,000 sq ft of retail space.
The retail development will be built on the current Park and Ride site and the council has already agreed a landswap with TfGM for a replacement facility on land between Beaver Street and Wallshaw Street.
Another new retail unit will be provided to the west of Prince Street where there will be a 18,000 sq ft store with around 50 apartment units set across three storeys above.
An independent economic analysis of the masterplan by AMION Consulting identified it is expected to create more than 700 new jobs and could be worth up to £21 million per year to the local economy.
Cllr McMahon added: “I believe this will not only act to spur significant growth in Oldham but people will see that the council is working hard for the future of this town.
“When my children grow up I do not want them to leave Oldham like so many other families and young people do – I want them to stay because it is somewhere they want to live.
“It’s vital we grasp this chance to make the most of our new Metrolink connection, attract new high street names, offer quality living options and preserve the historic Grade II-listed Nat West bank building for modern use.
“Prince’s Gate will also complement our blossoming new Independent Quarter which will benefit as the natural link between this new development and the Old Town Hall ODEON cinema, Parliament Square and the Spindles/Town Square shopping centre.”
The development will be carried out in phases starting onsite in 2015, with the opening of the new retail development set for 2017.
A future Cabinet report will set out all the delivery options with a full financial analysis, including council funding, possible joint ventures and development partners.
The Prince’s Gate plans are showcased in an animated 3D flyover online at: www.oldham.gov.uk/princesgate
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