Work begins on latest phase at Stockport Exchange

Partners Stockport Council and leading regenerator of towns and cities, Muse Developments, have begun to bring forward the latest phase of development at Stockport Exchange – one of Greater Manchester’s most connected business hubs.

Following the scheme’s approval by council planners in late 2021, partners have appointed Galliford Try as the contractor to deliver the third stunning, high-quality 64,000 sq ft office building, which will sit adjacent to sister buildings 1 and 2 Stockport Exchange, along with an innovative 399-space multi-storey car park for office occupiers, featuring electric vehicle charging points, solar photovoltaics and a green ‘living’ wall. This latest phase will build on the success of previous phases and will incorporate additional public realm improvements to benefit both the town centre and the community.

Both the council and Muse secured £4.2m of funding from the government’s Getting Building Fund through Greater Manchester Combined Authority, to unlock the site and accelerate this phase of the masterplan. Evergreen funding, secured through GMCA, is also being used to scope options for roof mounted solar PV as part the council’s ambitions for promoting clean growth and its commitment to Stockport’s Climate Action Now Plan.

Stockport Exchange is a £145m programme of place-changing regeneration being delivered collaboratively by Stockport Council and Muse. Since the partnership began, the team has completely transformed the area around Stockport train station, so far bringing forward three successful phases; a 115-bedroom Holiday Inn Express, a 1,000-space NCP multi-story car park, as well as two striking office buildings totalling 120,000 sq ft with ground-floor retail, sat within beautifully-landscaped public realm. Stockport Exchange sits centrally to the council’s Mayoral Development Corporation, its £1bn town centre regeneration and has attracted a number of high-calibre occupiers such as BASF, MusicMagpie and ONP, who all have their UK HQs within the scheme.

Leader of Stockport Council, Cllr Elise Wilson, said: “I am delighted that work on the next phase of Stockport Exchange has begun on site. Stockport Exchange has been a game-changer for our town, and this next phase is a testament not just to the success of the development but also the demand from businesses for good quality offices in a prime location.

“This announcement shows how ambitious we are for Stockport! It comes at the same time as we progress other vital projects, like our new transport hub, Weir Mill and continue to invest significantly to improve Mersewayand the Underbanks, which will benefit the whole of the borough to make Stockport a better place for us all.”

Cllr David Meller, Cabinet Member for Economy and Regeneration, said: ”Confidence in Stockport from the private sector continues to grow and I am thrilled to see the next phase of this popular development get underway, on the back of welcoming ONP last week. Stockport Exchange has established itself not only as a high-quality destination regionally but also able to provide opportunities for relocation outside of London. It continues to attract new businesses and major employers, creating jobs and putting us on the map as a great place to live, work, play and connect.”    

Tom Webber, senior development surveyor at Muse, said: “As a business, we’re proud to reach a point in the Stockport Exchange story where we’re seeing our collective vision for a diverse business community coming to life, with a number of high-profile businesses calling the scheme home.  

“Over the coming months, the place will be a hive of activity as we deliver two further buildings within the masterplan, as we continue to deliver catalytic regeneration with our progressive partner in Stockport Council that drives growth and prosperity to benefit the proud people of Stockport, while promoting wellbeing, sustainability and active travel to create a place fit for the future.”

Darren Parker, managing director for Galliford Try Building North West, commented: “Galliford Try is delighted to be commencing work on Stockport Exchange Phase Four in partnership with Muse Developments and Stockport Council. The commercial office market remains an important sector for our business and our Sustainable Growth Strategy, and we look forward to building on our long-term relationship with Muse by delivering a high-quality regeneration project for Stockport Council.”

Once complete, the wider Stockport Exchange development will have delivered up to 375,000 sq ft of office space and 28,000 sq ft of commercial floor space.

Cushman & Wakefield and CBRE are acting as joint agents for the scheme.