There is always something going in Stockport and at the end of November, the planning and highways regulation committee were due to meet to talk about the potential addition of 175 apartments to the area. This involves the Springmount Mill in Edgeley and the redevelopment of this area was high on the agenda at a committee meeting on Thursday the 23rd of November. It is believed that there was a recommendation for the project to be approved but as of yet, there has been no official announcement or statement from the local council.
The site, which lies off of the Brinksway, has been empty for a period of time and there are a number of buildings to consider on the site. There are two mills which are three storeys high, there are industrial units and there is a former bleach and paintworks. The developer involved with this project is Carpenter Investments and they are looking to demolish some of the buildings while looking to retain the façade of the mill.
Tradition is a popular trait in modern homes
This is something that many buyers are interested in because it adds a touch of tradition and nostalgia to their home, which is definitely something that many people are looking to benefit from. The developer is also looking to build three new blocks as part of the project. These blocks will range between five storeys and eight storeys.
The design work for the project has been undertaken by L7 Architects and the project will see 175 private rent apartments being introduced to the area. The make-up of these apartments is set to include 126 two-bed flats and 49 one bedroom flats. One issue that may be a stumbling block is the fact that there are currently no provisions for affordable housing in this project. This stands against council planning policy which would ask for between 35 and 44 affordable units from this development.
However, a viability appraisal was raised alongside the developer’s planning application. This appraisal outlined their argument that the project would not be a viable one if it had to include affordable homes. This test was subjected to consideration from Carillion who are the advisors for the council. They deemed the project to be of “marginal viability” if there were affordable homes included in the project, citing a range of issues. Ultimately, Carillion stated that with this plan in place, the scheme would not be able to obtain anywhere close to a 20% profit margin.
We are Stockport property specialists, and this is why so many local homeowners call on us to provide them with the support they need to sell their home with the greatest of confidence. You can give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://valuation.spencerharvey.co.uk