Bury Council has started talks to buy Longfield Shopping Centre from Hollins Murray Group to progress the delivery of a mixed-use scheme in the town centre in partnership with Muse Developments.
HMG is courting reduced offers for the retail complex, presenting Bury with the opportunity to take control of the centre and its long-awaited redevelopment into “a distinct, usable civic external space, which symbolises the centre of the neighbourhood”.A report to Bury Council’s cabinet states that it has received notification that HMG would be “willing to consider a reduced price” for the sale of Longfield until the summer, requiring the council to act fast if it wishes to buy the seven-acre site.
“Until now, the purchase price for the shopping centre has been too high to develop a viable scheme”, the council said in the report.
As well as seeking approval for the acquisition of the retail centre, the council is also requesting permission from its cabinet to enter into a joint venture with Muse to bring forward the mixed-use project. ….