An international consortium headed by family office investor Midia and including Beijing Construction and Engineering Group International is expected to invest £250M in replacing Bolton's Crompton Place shopping centre.

Beijing Construction and Engineering Group International is an equity and construction partner in the £1B Airport City project at Manchester Airport and the preferred contractor for the new £1B Salford mixed-use development Middlewood Locks.

The development is one of the cornerstones of a £1B Bolton town centre regeneration include 340K SF office space at Church Wharf. In March Muse, the Morgan Sindall-owned developer that has led Stockport's redevelopment, was picked to lead Bolton's £210 Church Wharf project.

A statement from Bolton council confirmed the Midia/Beijing Construction involvement, and said further announcements would be made this autumn. Colliers International are advising Midia and their investment vehicle, Bolton Regeneration Ltd.

"This investment is a fantastic opportunity for one of Greater Manchester’s largest towns to establish itself as major player within the Northern Powerhouse," a Midia spokesperson said. "Midia has extensive experience in partnering with public sector organisations and we look forward to working closely with Bolton Council to deliver a programme of regeneration that secures long-term economic growth for the town."

A new retail and leisure development will replace the 280K SF Crompton Place shopping centre.