Historic Bolton Mill with Planning for 54 Flats Hits Market at £1.8 Million
A significant mill building in Bolton, which has secured full planning permission for conversion into 54 apartments, has been brought to the market with an asking price of £1.8 million. The property, known as the Bridgeman Place works on Salop Street, is situated within the crucial Trinity Quarter regeneration zone in the heart of Bolton town centre.
Property Details and Marketing
Property agent Fletcher CRE is handling the sale on behalf of the current owner. The firm has highlighted that preliminary work has already been completed on the site to enhance its redevelopment potential. According to a marketing brochure from Fletcher CRE, the opportunity involves acquiring a large, detached three-storey mill that recently obtained planning consent for 54 apartments.
The proposed development includes a mix of unit types, with 25 two-bedroom apartments, 27 one-bedroom apartments, and one three-bedroom apartment located on the top floor. The planning consent also allows for additional floors to be added to the building as part of the redevelopment project.
Existing Works and Location Advantages
The current owner has undertaken several key works, both externally and internally. These include separating the building from the adjoining structure, creating a residents' courtyard, and installing new windows throughout. The brochure further emphasizes the building's prime location, noting it occupies one of the town centre's key intervention areas.
It is in close proximity to Bradshawgate and within easy reach of Bolton town centre, offering access to a wide range of amenities such as the Market Place and the retail core. This strategic positioning makes it an attractive investment for developers looking to contribute to urban renewal.
Planning Permission and Council Support
Planning permission for the project was granted in 2022 by the council to Excellency Capital Ltd. A planning officer supported the application, stating, "It is a building of value to the character of the area, worthy of retention and re-use." The officer added that the proposal provides an opportunity to deliver 54 new homes in an accessible location near key town centre sites.
This development is expected to make a significant and positive contribution to the council's housing requirements and land supply, aligning with broader regeneration goals for Bolton.
Sale Process and Investment Potential
Fletcher CRE has confirmed that it is inviting unconditional offers in the region of £1,800,000. This sale represents a notable opportunity for investors and developers to engage in a high-profile regeneration project, leveraging the existing planning consent to accelerate the delivery of much-needed housing in Bolton's thriving town centre.
