Land value on “one of the most difficult” town centre sites where a hotel and homes are to be built is yet to be decided.
This week Bolton Council provisionally agreed to sell land at Church Wharf off the River Croal ahead of a major scheme to build a 120-bedroom hotel with more than 400 homes.
The council cabinet heard from assistant director of development and regeneration Paul Whittingham that they do not yet have a final figure for the price of the land to be sold.
Mr Whittingham said: “The report that we will bring forward at a subsequent meeting will explore the possible value of the wider site.
“The assumption is at the moment that the land value is nil because of the viability issues, that does need to be explored."
But Mr Whittingham said that £5M from the Greater Manchester Combined Authority Brownfield Housing Fund had brought forward the opportunity to develop the site.
The provisional land sale could now mean that work could start in 2025 with final completion of the scheme set for late 2027 or early 2028.
Bolton Council had already bought several properties backing on to Bank Street and Manor Street before carrying out demolition works to get the site ready for development.
A previous scheme spearheaded by Muse Development had tried to develop the site before in recent years but had been derailed, partly by the Covid pandemic and rising construction costs.
But council officials say that thanks to their work, the site was still attractive for developers and Watson Homes has now been chosen to work on the project.
Council leader Cllr Nick Peel said: “It is one of the most difficult sites out of them all and what "I’ve said before is that for the people of Bolton, we can perhaps collectively forgive scepticism because of false dawns in the past, largely because of issues out of the council’s control.”
He added: “I do firmly believe that we have turned a corner on regeneration.”
Opposition leader Cllr Martyn Cox said that the process the council had gone through before building could start "illustrated the mountain we have had to climb.”
He said: “Paul described the land is being nil value, if you consider how much we’ve had to invest to get it where it is it certainly didn’t have nil cost in getting us to where we are.”
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The council envisages that when finished the new houses will prove to be a sought after place to live close to Bolton Parish Church and on the way into the town centre.
Deputy leader Cllr Akhtar Zaman said: “A conditional sale of this type is the best way to ensure work goes ahead promptly, while also ensuring the final scheme delivers on what our town centre needs.
“Bringing more people to live here will attract more hospitality, leisure and retail businesses into Bolton and create a more vibrant town centre.
“The inclusion of a hotel will be a boost for local businesses and will also widen the options for those visiting Bolton for our excellent events or outstanding cultural offer.”
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