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The developer, now owned by global investment manager Federated Hermes, beat Urban Splash to take control of the stalled scheme, which will see the 280,000 sq ft centre demolished and replaced with a residential-led mixed-use development.
The overhaul is aimed at resetting the historic heart of Bolton town centre, with new homes, reworked public spaces and a restored pedestrian route linking Victoria Square with Bradshawgate.
Crompton Place, which originally opened as an Arndale Centre in 1971, sits at the centre of the council’s long-running regeneration ambitions and has been earmarked for demolition since its purchase by Bolton Council in 2018 for £14.8m from Santander Pension Fund.
Earlier plans were being advanced by Bolton Regeneration, a joint venture involving Beijing Construction & Engineering Group International and regeneration specialist Midia Group.
That partnership secured planning permission to convert the centre into a 110-bed hotel, 150 homes and 113,000 sq ft of offices, but the scheme stalled in 2020 and the JV was dissolved.
Demolition has only now become possible after several years of work to relocate remaining tenants elsewhere in the town centre.
Buildings to be demolished
The centre closed its doors for the final time in May 2025, with demolition expected to start in early 2026.
The council has previously said the demolition will be carried out in a single phase, taking around 50 weeks to complete.
MEPC brings a track record of major city-centre regeneration schemes, including NOMA, an £800m mixed-use neighbourhood near Manchester Victoria, and Wellington Place in Leeds, which combines offices with shops, restaurants and public realm.