CTP St James - Retail - Stalybridge, Castle Basin

Date: 13 Aug 1999

Tesco Stores Ltd is to anchor the new £15 million Castle Basin regeneration project in the centre of Stalybridge, Greater Manchester, which is being developed by CTP St James, the joint venture between CTP Ltd of Stockport and St James Securities Ltd of Leeds.

The 5,296 sq m (57,000 sq ft) scheme will comprise a new 5,100 sq m (55,000 sq ft) Tesco store, petrol filling station and 409 space car park plus a pub/restaurant, two smaller retail units and 40 residential units including the renovation of an important listed corn mill.

Conditional contracts were exchanged with Tesco earlier this month on a new 25 year lease on the whole of the retail element of the scheme.

The Castle Basin scheme forms a natural extension to the existing town centre retail facilities. Located in Trinity Street, it is immediately opposite the prime pedestrianised section of Grosvenor Street and close to Armentieres Square (which incorporates the town's central bus terminus).

The 22,684 sq m (5.605 acres) site, which was previously given over to industrial units and car parking, straddles the route of the old Huddersfield Narrow Canal (currently filled in). CTP St James' scheme includes significant environmental improvements and the re-opening of this part of the Canal. The full length of the canal, which has been closed for the majority of this century, is being re-built as part of a Council-sponsored Millennium project. Car parking will be provided on either side of the Canal and three new bridges will link the two parts of the site.

Construction at Castle Basin is due to start on site in August, with completion due in September 2000.

Letting agents for the scheme were King Sturge & Co.