Unlikely Northern town has incredible £1bn comeback - could become UK blueprint
Just a short ride away from Manchester sits a town that was avoided until recently. Stockport has undergone a huge redevelopment. Most locals say the story of Stockport town centre’s revival has been "remarkable", reports Manchester Evening News. The town underwent a massive regeneration plan which has completely turned it around - now, it wins national accolades as one of the best places in the north to live. According to Secret Manchester, Stockport's expansion marks the next phase in Stockport’s £1 billion regeneration journey – projected to grow to £2 billion by 2040.
In 2019, the Stockport Town Centre Mayoral Development Corporation (MDC) was set up which marked the beginning of change for the area. An MDC is a regeneration partnership between local leaders in Stockport and the Greater Manchester mayor, Andy Burnham, at the time.
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Since its inception, Stockport MDC has attracted over £600 million in private investment. The MDC model was first used in London, but Greater Manchester has latched on to the method and is putting it to good use in Stockport and beyond. The UK could use the model as a blueprint which is something Burnham has backed and with rumours swirling that he could be the next Prime Minister, change could be on the horizon for other areas too.
In Stockport, the town centre has gained a new transport interchange, apartments, and Stockport Exchange, Stockport’s own business district next to the train station.
More residents living in the town centre has boosted the local economy, pouring money into shops and businesses, Manchester Evening News reports.
Earlier this year, parliament agreed to double the regeneration boundary in Stockport, so it now includes the whole of the town centre area.
As a result, there will be 8,000 homes built in Stockport in the coming years, as well as new places for food and drink.
Other places are trying to replicate the success seen in Stockport. These include Bolton town centre, Oldham, Atom Valley, Middleton, the Ashton to Stalybridge corridor, Leigh, Old Trafford and Western Gateway which spans Salford and Trafford.
With Andy Burnham now back in Parliament as Makerfield MP and rumours that he could be the country’s next Prime Minister, the current Greater Manchester MDC model of regeneration may become the foundation for change which is rolled out elsewhere.
Burnham spoke to the Local Democracy Reporting Service (LDRS) in March 2024 at the opening of Stockport transport interchange.
He said at the time: “I've not stopped smiling since I got here. From a transport point of view it's a huge lift, but look at the park as well, open space, green space, amazing new developments - this is a vision of the future. I think this is how you bring new life to a proud English town like Stockport.”