Next month, a report will go to the council’s cabinet asking for approval for a demolition contractor and find a development partner for the site.
The proposal has been to develop the old shopping centre site into a mixed-use scheme for food and drink outlets, offices and more than 270 car parking spaces.
Council deputy leader and cabinet member for regeneration, Cllr Akhtar Zaman, said: “We know from speaking to residents that the demolition and redevelopment of Crompton Place is a top priority, and I am sure the public will welcome this news.
“The report sets out a clear pathway to demolish this underused building, work with developers to regenerate the site, while also making good use of the space in the meantime.
The site is set to be redeveloped (Image: Newsquest)
“The flagship redevelopment of Crompton Place will signal to the market that Bolton means business, bringing more private sector investment into the town centre.”
As it stands there are only six businesses now running inside Crompton Place with another six operating outside the shopping centre facing Victoria Square.
The demolition will not include the HSBC or the former M&S building but will include Acresfield House and the basement car park.
After the building has been demolished the council report says that a “meanwhile use” will be put in place so that they empty space does not “become a blight.”
The report said: “Meanwhile use will only be required for part of the site and will be delivered as a first phase while other parts are being developed, with development partners being procured to and be ready to commence and deliver the future phases following the demolition, this meanwhile use area will be developed as the final phase.”
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Developers will then be invited to put forward bids to work on the site in what the council says will be an open and competitive process.
The report said: “The strategy to regenerate and deliver the future plan for this critical key location for Bolton has to be aligned and co-ordinated to ensure that the demolition plan and securing a developer is undertaken to ensure that the Council is able to secure the Council’s vision and key regeneration priority, at the earliest point.
“The process to secure a developer will allow the developer to influence the demolition and ensure that the site can be easily brought forward.”
The council’s cabinet will meet to consider the report on Monday, November 4.