Bolton Metropolitan Borough Council has selected MEPC, the specialist development arm of Federated Hermes, as preferred development partner for the Crompton Place mixed-use scheme.
The regeneration scheme will transform an underused 4-acre retail site in Bolton town centre into a “place‑based, future‑focused neighbourhood that reflects Bolton’s identity and supports the needs of current and future generations”.
In partnership with Bolton Council, Federated Hermes will create a phased masterplan and an estate engagement strategy for the site, which is expected to comprise new homes, business space and new public realm.
Paul Pavia, head of development at Federated Hermes Real Estate, said: “We believe real estate has a powerful role in responding to local needs, enhancing the connections between people, businesses and communities, whilst delivering positive economic outcomes, and Crompton Place is a clear opportunity to put that belief into action.
“Just as Samuel Crompton’s innovations shaped Bolton’s past, we are excited to join forces with Bolton Council in helping shape the future of this historic town with a strong industrial heritage. We will collaborate closely with Bolton Council, local stakeholders and communities, and investors to bring Crompton Place into its next chapter so that it remains inclusive, relevant and successful over the long term.”
Nick Peel, leader of Bolton Council, added: “This partnership reflects our shared ambition for Crompton Place and the rejuvenation of Bolton’s town centre. Working with Federated Hermes, we can create a new neighbourhood shaped by local needs, one that supports inclusive growth, celebrates Bolton’s heritage and delivers a vibrant, green and welcoming place for people to live, work and thrive.”
