The Cotton Works: Supporting a 16-acre urban regeneration project that’s anything but run of the mill.

When ambitious property developers The Heaton Group saw an icon of the industrial age that had sadly fallen into disuse and disrepair, they also saw an opportunity to revitalise the historic mill complex and the community that once relied on it. They just needed a lender who could work with them.

The idea

In its heyday, the Eckersley Mill complex in Wigan was at the heart of the community, employing over 3,000 workers and fuelling the local economy. But, since the cotton industry closed in the 1970s, the Grade II-listed Victorian buildings had been used as paintball arenas, go carting tracks and, most recently, abandoned altogether.

That was until developers The Heaton Group submitted plans to regenerate the derelict site in to The Cotton Works - a phased project that would create a vibrant mixed-use “10-minute” community, blending residential, commercial and leisure spaces with a dynamic food hall and rooftop bar, including over 68,000 sq ft. of Grade A office space.

The enablement

Having supported The Heaton Group on several of their previous projects across the North West, we knew that they had a great reputation for creating communities and a proven track record of rejuvenating large urban brownfield sites.

So, when they brought their latest vision to us back in 2021, we were excited to support them, providing the finance to secure the mill complex and help get the £250 million project underway.

Since the initial purchase, we’ve also supported the development with further funding at key milestones, helping the developers keep the project on track.

The result

We recently returned to the complex, having been invited to see the completion of Phase 1 - the amazing transformation of Mill One, originally built in 1884, into a five storey hub of hospitality and high quality office space, creating roughly 400 jobs.

Having followed generations of his family into the property business, and counting his sons among 120 staff, Managing Director John Heaton also moved the company’s headquarters into Mill One, demonstrating his confidence in the project’s success.

“As someone that grew up in Wigan, I really wanted to breathe new life into Eckersley Mill whilst respecting and celebrating the heritage of the building and the local area. I’m proud of what we’ve achieved so far, but this is just phase one. I’m looking forward to preserving Wigan’s industrial past and laying the foundations for a dynamic and prosperous future through this project,” John told us.

The future

Within the next few years, The Cotton Works will see five more phases of development, adding over 800 apartments, a range of leisure facilities including a new look roller rink, new build housing and retirement living facilities, and a luxury hotel.

Ritchie Watson, Corporate Sales Director – North West at Together, who visited the site commented that “it’s amazing to see how much of a difference this project has made so far, not just to the building itself, but to the economic outlook of the town as well. We’re proud to have played a part in the development and look forward to supporting John and the team further on this project and future developments.”

From development finance to commercial mortgages and bridging solutions, at Together, we’ve got a range of corporate finance solutions designed to help businesses grow and achieve their ambitions.

We know that every scenario is unique, such as building on brownfield or navigating complex organisational structures. That’s why our expert team of relationship managers and underwriters work with you at every step to help you get the decision you need.