Bruntwood has teamed up with Bury Council on a joint venture to buy and redevelop the town's Mill Gate shopping centre.
The property and regeneration specialist has vowed to work with the council to create a "vibrant and dynamic" mixed use development including retail, leisure, residential and office spaces across the 15-acre site.
It follows an earlier announcement in March that Bury Council was acquiring the 15-acre Mill Gate estate from owner InfraRed for an undisclosed sum.
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Bruntwood will bring its previous experience in town centre regeneration to Bury. In 2019 it formed a £50m joint venture with Trafford Council for the regeneration of Stretford Mall and Altrincham’s Stamford Quarter.
The Bruntwood-council JV has pledged to work with the local community in coming months to share their plans for the town centre and to encourage people to have their say.
Chris Roberts, chief development officer at Bruntwood, said: “Town centres are spaces where people gather to connect and communicate. Creating thriving towns and cities is our purpose and we are proud of our track record of transformational town centre regeneration projects in Greater Manchester to date.
“Through this new project in Bury, we are confident that we can create an environment that provides for the needs of the people of the town and beyond. We want to create a place where people want to live, work and socialise, which is why we’ll be undertaking an extensive consultation period with local residents to ensure it provides for their needs and wants.
"Bury has a strong local identity and this is something we want to celebrate and amplify throughout this project and can this only be achieved by working side-by-side with local people.
“As the next step in our mission to create thriving towns, Bury presents an excellent opportunity to use everything we have learned in Stretford and Altrincham and help provide a town centre that works and is something the people of Bury can be proud of.”
Councillor Eamonn O’Brien, leader of the council, added: “These are huge proposals, but an opportunity that we cannot miss. Local jobs, businesses, public services and the very quality of people’s lives depend on us taking the initiative, with all partners and agencies working together to deliver prosperity for all.
"Our plans for the Mill Gate centre will complement initiatives for a new flexi-hall on Bury Market and improvements in the wider area, plus a new transport interchange, aimed at ‘future proofing’ the town centre against the challenges posed by the changing retail landscape.
"Under our regeneration proposals, we are determined to ensure that every part of our borough will flourish.
"Our plans to regenerate the heart of Radcliffe are well underway, following our successful bid for £20m to build a multi-purpose business and leisure hub there, complemented by a new high school.
"We are driving forward major plans to transform the Longfield Centre in Prestwich, and we’ve just concluded our public consultation on how best to make Ramsbottom even better. Whitefield, meanwhile, is to receive expert support from the High Streets Task Force.
"We are putting the biggest ever council investment into all these proposals to make sure that our borough, its businesses and communities will thrive for generations to come."
