THE planned multi-million pound student village is a key piece in achieving town centre growth, the leader of Bolton Council has said.

University of Bolton bosses want to build the £40 million hall of residence for 850 students in Cheadle Square, behind the arches on Le Mans Crescent.

Cllr Cliff Morris said: “We are committed to driving economic growth and this is a very important piece of our town centre regeneration plan.

“The town centre’s long term future is dependent on schemes like this, together with all the investment we’re making in facilities at the Albert Halls, the new Interchange, and the regeneration of Newport Street."

The University of Bolton has 11,000 students, 800 staff and brings an estimated £1 million a week to the local economy.

Vice chancellor Prof George Holmes said: “Students spend more than £20,000 which include accommodation, tuition and other spending.

“There is evidence that students when they graduate stay in the area to work.”

He said that first class facilities would attract more students and provide a venue for visitors to its international conferences by its world leading academics which would bring more money into the town.

The council's development and regeneration chief Keith Davies, said: “Companies go where there is the skilled workforce.

"This formed part of our 10 year strategy for the knowledge quarter bringing it into the town centre and we are coming to the final phase.”

Adam Cunnington, from PSP, said: “We are delighted to be working with our partners the council and the university to deliver another project that has the potential to bring about significant positive change for the town.

"This is one of many projects, small and large, that we are working on together for the benefit of the residents of Bolton.”

And for the university it marks another significant step as it continues to grow.

Prof Holmes said: “We are one of the financially strongest universities in the country and the confidence we now have to take developments forward is growing by the year.

“The student village complements a further £35m development plan for new facilities underway on our main campus.

“This includes the new University Technical College, the new national centre for Motorsport engineering and our new Queens campus (the former sixth form campus) for dentistry and bio medical sciences in Farnworth.

“In addition, we are planning to build a creative industries centre for our film, digital and BAFTA winning special effects team.

“On top of the results of the recent government research audit which classifies six out of seven of our academic areas as world leading and all seven as internationally renowned, we are on a high.

“All this just 10 years after we gained university title and 190 years since we were founded as an institute.

“As I just complete 10 years here this year as the head of the university, I look forward to the next 10 years at this remarkable university."