Credit crunch hits town centre plans
Reporter: Jennifer Hollamby
Date published: 28 January 2009
AMBITIOUS plans for a new Oldham town centre have temporarily died a death as the economic downturn takes its toll.
A number of masterplans to transform the town centre and surrounding areas have been unveiled in recent years.
Some proposals, including moves to create an integrated health centre, plans to redevelop the Oldham College site and create a new regional science centre at the Sixth Form college, have got off to flying start.
But a number of apartment complexes around Union Street are lying empty, with other yet to be built as developers have felt the full force of recession.
Regeneration bosses also confirmed that plans for the Oldham Coliseum to relocate to the site of the old town hall were on hold, as the council and the theatre look to secure more investment to finance the move.
Jon Studholme, team leader for the town centre in the regeneration, also confirmed that the creation of family-friendly entertainment facilities, including a cinema and family restaurants, are not economically viable in the current climate.
And it looks like the opening of a new Marks and Spencer store in the town is even further away.
Mr Studholme told Overview and Scrutiny Commission councillors last night that a lot of work could be taking place on the masterplan even as developers shy away from investment.
He said: “We got to the stage with some of the plans where we were keen to get moving with them and now they have temporarily wound down.
“Now it’s time to change tack again, go back to the masterplan and take the opportunity to refine it and add more weight to our ideas, so that we are in a position to hit the ground running when the cash starts flowing again.”
He said that the council could re-assess and add to their plans with market research and that they will continue to talk to potential investors and partners.
He added that there were still things the council could do in the meantime to improve the image of the town, including using greenery in empty spaces and targeting grot spots.”
