Development zone brings dividends - commercial mortgages

17 June 2008

Those interested in taking out commercial mortgages may find good prospects in the Ashton Moss area of Greater Manchester, following news that the creation of a flagship economic development has attracted £400 million of new investment.

A Thameside borough council report concluded that the development zone created on the site, outside Ashton-under-Lyne town centre, has been a major success, the Manchester Evening News reports.

Discussing the development, Darran Lawless of Muse Developments, which developed the site along with Stayley Developments, told the paper: "With more than 1.4m sq ft of high-quality office, industrial, retail and leisure space, the development has helped to transform the local area, acting as a catalyst for wealth and job creation."

The creation of a £20 million hotel on the 200-acre site was a particularly successful move, he added.

Another location potentially seeing new commercial development could be Orion Park in Crewe.

Developers Graftongate and Highcross have submitted planning applications to build two industrial units there, Place North West reports.