Oldham Council has appointed Muse on a 15-year contract – which could be extended by another ten years – to redevelop plots totalling c. 97,000m2 and bring 2,000 homes to the town centre sites. The total value of Muse’s Oldham contract could be up to €643m, according to tender documents published by the Oldham Council last year.
A master agreement has been negotiated during the procurement process, which includes establishing a joint project board that meets quarterly, and the partnership between the council and Muse will now formulate more detailed strategies and business plans for sites in the town centre, expected to take around six months.
The official launch of Oldham Council’s hunt for a development partner began last summer after the authority had opted to self-deliver part of the town centre regeneration – the redevelopment of Spindles. The Spindles scheme, designed by Aew Architects, proposes turning the 41,800m2 town centre shopping centre into a mixed-use space featuring a new 4,600m2 Tommyfield Market and offices.
In addition to Spindles, Oldham identified several opportunity sites across the town centre that it wants to see redeveloped by Muse.
The first tranche of sites includes Oldham Civic Centre on Rochdale Road, which has a capacity for up to 600 apartments, the former leisure centre site on Union Street, which has a capacity for up to 250 apartments, and the former Magistrates Court & Manchester Chambers, which has capacity for up to 225 apartments. These sites have a combined development value of between €175m and €292m.
Additional sites that could also be redeveloped include Land on Bradshaw Street – up to 150 apartments, Metropolitan Place Site – up to 75 apartments, Land on Mumps and Wallshaw Street – up to 100 apartments, Land on Southgate Street and Waterloo Street – up to 250 apartments, and the former Tommyfield Market – up to 350 apartments. These sites have a combined development value of €175m to €234m.
As well as residential, which Muse will deliver, the council’s plans for a rejuvenated town centre include a new park and theatre, and the transformation of the Old Town Hall’s Egyptian Room into a modern food hall.
“I am truly excited that we’ve secured a partner from Oldham, who knows Oldham so well and is just as passionate as me to make our borough a better place for all of us who call Oldham home. We and Muse will be creating a new town centre for not just the people who live here now, but for generations to come,” said Cllr Arooj Shah, Leader of Oldham Council.
“As a business, we’re all about placemaking. We create kinder places in our towns and cities that focus on quality, community and sustainability. It’s regeneration with people at its heart that will celebrate the proud town of Oldham, its rich heritage, along with its aspirations for the future.” said Phil Mayall, managing director of the North West at Muse.
Oldham Council was advised on the procurement process by CBRE and Brabners.
