IN June this year Bolton Council acquired Crompton Place Shopping Centre as a central part of its town centre masterplan.

The council bought the shopping centre for £14.8 million from Santander after the council’s cabinet had given its approval for the purchase in May.

The building the council purchased does not include Marks and Spencer, which is joined to Crompton Place by a walkway, or the old New Look site.

READ MORE: Bolton Council new owners of Crompton Place in £14.8m deal

A planning application is expected to be put forward by summer next year, following consultation, and chiefs hope the project will then be completed within five years.

READ MORE: £250 million to transform Crompton Place

When the building was bought, council leader Cllr Linda Thomas said: “The purchase of Crompton Place is fundamental to support the regeneration and transformation of our town centre.

“It is at the heart of our town’s civic and retail core and this deal means we now have control of a major strategic site that is critical to delivering the town centre masterplan.”

The masterplan is a £1 billion project to regenerate the town centre using council and private sector investment.

READ MORE: How the £1 billion plan has played out so far

Gerry Brough, the council’s interim director of place, said at the time it was important the authority took the site into its own hands.

He said: “It was a case of we either buy it or it goes to someone else who, potentially, we know nothing about – or they don’t sell it and it gradually degrades.

“The council has taken the positive move to take control of that.”