The sale of Salford Shopping City could spark a massive regeneration of Pendleton, according to councillors.
The precinct has been sold for £40m and could lead to a brand new city centre for Salford.
The inner-city shopping centre had been put on the market after a row with supermarket giants Tesco.
The centre, which sits on a seven-acre site, has been sold to Isle Of Man based developers Praxis Holdings for an approximate price of £40m.
It is hoped that the sale of the centre will spark fresh regeneration in and around Pendleton.
Councillor John Warmisham, ward councillor for Langworthy which straddles the site, said: "These are exciting times for Pendleton.
"We’ve got the PFI scheme for the housing which will totally rejuvenate some of the housing estates in the area.
"We’ve got a fantastic new centre in Pendleton Gateway and we hope that the new owners of Salford precinct will work with us to bring the best possible retailers into the city to give it a new lease of life."
A new Tesco planning application is likely to be submitted in the spring.
It is thought it will see a 140,000 sq ft Tesco Extra, which would include a wide range of non-food goods such as clothing, electrical appliances and homeware.
The development was first mooted 15 years ago and could bring around 200 jobs to the area.
Previous plans had ensured that the shopping centre and the proposed Tesco store would be developed in partnership to guarantee the two sites were fully linked.
But Tesco has announced plans to build a store on the site of St James RC Primary opposite the shopping mall.
Praxis Holdings declined to comment.
Source:- http://www.salfordadvertiser.co.uk
This is great news for Pendleton but isnt there something sad about all of this that seems to reflect our latter day culture. communities seem to be loosing a piece of their identity by "buying out" to forign areas. A little like England football team being managed by an Italian. I'm sure it will be graet as afar as progress goes for the area and good luck but there is something I fee lwe are loosing by selling out to the isle of wight.
ReplyDeletejacob