Trafford College Group, advised by Irwin Mitchell, has sold a 2.89-acre site which forms part of the Stockport College campus to Manchester-based developer Investar Property Group. The site is located in the centre of Stockport, a town that is currently undergoing a €1.1bn (£1bn) investment programme, at the junction of Greek Street and Wellington Road South and had been identified as prime for a residential-led mixed-use development scheme. Following a marketing process by Colliers International, Investar was selected as the preferred bidder and has now committed to buy as soon as planning permission has been granted. The site includes the Torkington Building, Lyme Building, University Centre, and the Grade II listed Greek Street Centre.
Investar Property Group last week released images of Royal George Village, the €73.8m (£65m) mixed-use scheme it intends to build on the site, which would include converted and new-build residential as well as co-working space, commercial units and green space. Investar's plans reveal:
- the 120,000ft² Torkington building would be converted into 120 apartments with a focus on providing affordable homes for Stockport residents.
- the existing 63,000ft²Lyme building will be demolished and a 250-apartment block will be constructed.
- the listed 26,000ft² grade two-listed Greek Street building would be converted into a co-working space for local businesses.
- plans to include provision for another new-build block of 55 apartments located on the corner of Greek Street and Royal George Street.
- four existing buildings will be demolished to make way for an underground car park and public realm.
