NEWS of £250 million of investment for a new Crompton Place have been welcomed by many of the town’s leaders.

Even those who look at the investment with a wary eye are cautiously optimistic.

Opposition leaders Cllr David Greenhalgh (Conservative) and Cllr Sean Hornby (UKIP) have both expressed their support for the town centre masterplan and this first leap forward at Crompton Place.

READ MORE: £250 million to transform Crompton Place

Cllr Greenhalgh said: “I think it is good and it’s great the council is taking the initiative and acting as something needs to be done.

“By taking ownership we can keep a keen eye on the development and our vision. I do support it and the investment in the town centre, it's long overdue."

Cllr Hornby compared this new regeneration scheme to one planned before the financial crash in 2008. He said: "This masterplan far exceeds what they were trying to do then. That was doomed before it got off the ground."

He added: "From what I have seen of the plans I'm quite optimistic and for the first time in a long time all political parties are pulling together."

READ MORE: A recent history of Crompton Place

The £250 million for Crompton Place represents part of a planned £900 million from the private sector to regenerate the whole of the town centre. Cllr Hornby called the council's decision to take out a £100 million loan a "bold" one which showed the authorities own commitment to the plan.

Bolton South East MP Yasmin Qureshi, whose constituency encompasses Crompton Place, said: “I think the Bolton Council are doing a good job trying to make Bolton vibrant and it’s a good thing.

“Many other areas, like Bury, have improved so much and benefitted from proper investment and it’s right Bolton does that as well.”

Nikki Wilson-Cook, the manager of The Market Place Shopping Centre near to Crompton Place also welcomed the investment.

She said: "£250 million in the town is absolutely a real positive and Crompton Place has a very different shopper to us so I welcome it, it will make the town centre better."

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

More cautious welcomes came from Cllr Dave Wilkinson (Liberal Democrat) who said: "We have got to welcome some investment, it sadly needs it."

He queried the mix of people involved in the project though with the council and Greater Manchester Combined Authority and the Department for for International Trade sitting in a group with developers Midia and Chinese contractors Beijing Construction and Engineering Group International. He called the group "bizarre" and said: "It would be interesting to see what's involved in it and what do they want for it? They don't put money up for nothing, what are the strings?"

Peter Flitcroft, leader of Farnworth and Kearsley First was "delighted" by the investment and added: "We are sure that the residents of Kearsley, Horwich, Westhoughton, Blackrod and Little Lever - towns that also form the borough of Bolton - are looking forward to news of the level of investment that is going to be heading their way as well."