Welcome to my first ramblings of 2024. I hope you’re having a better new year than a few businesses who face the prospect of having to find new premises…
Place North West reported 2 weeks ago (don’t say I don’t endeavour to bring you the cutting edge bus-related breaking news that you crave!!) that TfGM had completed the purchase of a small (74k sq ft) light industrial estate on the A6 behind Mayfield (remember TfGM’s partnership with Mayfield Partnership LLP?) for about £15m – £4m over the asking price! Desparate much?
The land sits between the existing Stagecoach HQ at the bottom of Hyde Rd and Piccadilly station and continues TfGM’s love for buying parcels of land near existing depot facilities (Such as the cut-price site bought in Central Park from Manchester City Council to replace Queens Rd described with wonderful bingo card-dabbing phrases “retired” and “reprovisioned for further development and regeneration”). Why the need for replacing these well-established sites? What’s the point? “Consolidation” to what sound like ‘super depots’.
This Mayfield site was advertised in the supporting texts to be suitable for a massive 46-storey 818-flat tower block – I guess it helps with Mayor B’s commitment to banish ‘bad housing landlords’ with low quality stock via reposessions and compulsory purchases. The industrial site currently generates a rent of £500,000 a year and vacant possession is envisaged to be achieved in 2028 unless there’s early termination.
Reported last year by the LDRS, the site of the old bus station in Ashton was bought by Tameside Council for £150,000. The £35m new bus station was built on the edge of the old site over 3 of the old ‘islands’, leaving one remaining island abandoned. In return the council gave TfGM 3 assets for £28,000 – Freedom Gardens, former New Charter Housing Association land, and the former Probation office next to the interchange – bargain!
Up in Bolton meanwhile, their council bought and tried to sell the old Moor Lane bus station for £1.85m, loosing half a million in the process. Better explained by The Bolton News.