Stockport Leader, Councillor Dave Goddard, today announced good news for the regeneration of Stockport town centre, with the Council completing the purchase of the Grand Central leisure complex.

The development of the scheme will create up to 700 new jobs and attract up to a further £100 million private sector investment.

Stockport Council Leader, Councillor Dave Goddard, said: “I have always said that we are committed to driving forward the regeneration of Grand Central and Stockport town centre. Today we have shown that we mean business. We have taken the initiative and put our money where our mouth is.

“We have weighed up all of the options, and decided that in the current economic climate, the best way to ensure the progress of the site is for the Council to buy it. This will in turn boost the local economy and create jobs for local people.

“Our proactive approach to the redevelopment of the site includes working with private sector partners to build high specification office space, a hotel and multi-story car park.

“We have looked at the numbers very carefully to make sure this is good value for money, self-financing and in the best interests of the Council tax-payer.

“This is a once in a lifetime opportunity for us to secure the future of Grand Central and create an attractive and thriving gateway to Stockport town centre.”

Stockport Council has been advised by commercial real estate advisor, CB Richard Ellis.