Bolton Council has agreed to accept more than £542,000 less than agreed with a developer for the former Moor Lane bus station site after the project to build 208 new homes was placed under threat. In 2021, developers Step Places along with housing association Bolton at Home, were given permission to redevelop the 4.4-acre Moor Lane site, behind the iconic Le Mans Crescent.
Work to prepare the site for construction began last year. At the time of approval the developers t agreed to pay Bolton Council £1.854m for the land and transferred £925,000.
However, the balance of £927,500 is now due and the developer now says it is seeking to make a payment of just £385,000, a shortfall of £542,500. A report to Bolton Council leader Martyn Cox, who has agreed to accept the lower amount, said: “The key change from the March 2021 approval is the reduced value of the site.
