Grand Central renamed Stockport Exchange

Muse Developments and Stockport Council's £140m regeneration scheme at Grand Central is to change its name to Stockport Exchange.

Wes Erlam, senior development manager at Muse, said: "Grand Central has historically been associated with the leisure scheme and the new scheme is focussed on creating a vibrant new destination for businesses and the public. Although we will retain some elements of the retail and leisure components we felt it was appropriate to change the name and create a fresh start for the new scheme.

Erlam continued: "The word Exchange was chosen for many reasons – the fantastic public transport links being the main one. In addition the name represents a change on many levels: a change of use, space, and more importantly a change for Stockport."

Muse plans to deliver around 400,000 sq ft of offices in half-a-dozen buildings plus a hotel and multi-storey car park. Stockport Council bought the 10.4 acre site in January 2011 for £15m from Deloitte, administrator of Targetfollow Property Holdings, a subsidiary of Targetfollow Group.

Construction of the first phase 1,000-space car park next to the mainline station is underway. The car is due to open in March 2014. Dates for the later phases have not been set out.

Cllr Iain Roberts, executive member for economic development and regeneration at Stockport Council, said: "The area around Stockport train station is transforming into an exciting new commercial and commuter hub. The name Stockport Exchange represents this change and also harks back to the area's rich history, with Exchange Street just around the corner. It will offer a new vibrant space for people to work, travel, visit and relax, boosting the surrounding area and creating more jobs for local people."

CBRE and DTZ are the joint agents for Stockport Exchange. Muse said it remained business as usual for the rest of the Grand Central leisure complex occupiers including Army Careers, Cineworld, Davies & Co, East Orient, First Step Finance, Life Leisure Grand Central Pools, McDonalds and Subway.