BCEGI on board for £1.2bn Bolton regen

Heads of terms have been agreed with Beijing Construction and Engineering Group, paving the way for the first phase of Bolton Council’s £1.2bn regeneration of the town centre. BCEGI has joined Bolton Regeneration, a consortium led by investor and developer Midia, to bring forward the £250m first phase of the town’s regeneration to redevelop the Crompton Place Shopping Centre on Victoria Square. The shopping centre and surrounding area will be converted into a new mixed-use scheme, including leisure, retail, office and residential space. The agreed heads of terms follows Bolton Council’s announcement earlier this month that the town centre masterplan would increase from £1bn to £1.2bn following increased private sector interest and the prospect of a further injection of funding. Bolton Council first unveiled the £1bn masterplan in September 2017 and bought Crompton Place shopping centre for £14.8m in June 2018. The announcement marks BCEGI’s latest development in the north of England. The investment, development and construction company is an equity and construction partner on the £1bn Airport City in Manchester and is the main contractor on £90m, 35-storey residential development the Lexington. It is also the preferred contractor for the £1bn Middlewood Locks mixed-use residential development in Salford.   To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette