Wake up Macclesfield have given us an update of the situation regarding the town centre redevelopment (i.e. new town centre) for Macclesfield.
The Chester East Borough Council (Churchill Way, Macclesfield) Compulsory Purchase Order 2014
Notice is given that the Secretary of State for Communities and Local Governmenthas instructed one of his Inspectors to hold a public local inquiry into the above order at Oakleigh House (Macclesfield Masonic Hall), 1 Riseley Street, Macclesfield,Cheshire, SK10 1BW on 21 April 2015 starting at 10.00 am. It is anticipated that the the inquiry will last four days.
Objectors to the order and/or their appointed representatives may attend to state their case to the Inspector. Other interested persons may attend and, at the Inspector’s discretion, state their views on the order. If you give, or call another person to give evidence at the inquiry by reading from a written statement you are required in accordance with Rules 15(1), (2) and (3) of the Compulsory Purchase (Inquiries Procedure) Rules 2007 to send a copy of that statement with a summary (where required) to the Inspector c/o: Environment & Transport Team, The Planning Inspectorate, Room 3/25 Hawk Wing, Temple Quay House, 2 The Square, Temple Quay, Bristol BS1 6PN and to the acquiring authority by 31 March 2015.
Further details at: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/11487/147639.pdf
Following a Freedom of Information request, Wakeup Macclesfield received a heavily redacted copy of the viability assessment commissioned by Cheshire East in May 2014. This, as expected, shows little more than that Wilson Bowden’s sums about the costs and profitability of the development add up – based on their own assumptions of how many units will be let.
It does point out that the low profit margin of 13.4% allowed for in Wilson Bowden’s original calculations would not normally be an acceptable level of return for a developer and that this margin has now dropped to 13.1%, but states that as Wilson Bowden are happy to proceed on this basis then the development is considered viable.
A footnote from ilovemacc:
A contact of ours, heavily involved in commercial property rentals in the town. had several approaches last year from major national retail players exploring availability of premises in Mill Street.
On discovering the plans for the Town Centre Redevelopment they decided not to pursue matters.
Ask yourself, would you sign a 25 year lease on a high street property when there was a chance that this particular main shopping street wouldn’t exist in a few years?
There is no money for the scheme – but the town will continue to be blighted until the coffin lid of this appalling scheme has been firmly nailed down.