Cheadle Towns Fund

1. About the fund

In November 2019, the government formally launched a £3.6 billion Towns Fund as part of a wider strategy to rebalance the national economy. Cheadle Town has been invited to bid for up to £25 million. This amount is subject to government approval.

The objectives of the fund are to invest in:

• economic growth
• regeneration
• improved transport
• digital connectivity
• skills and enterprise

Proposals must make a difference to the area and meet the fund's criteria.

A Cheadle Towns Fund Board has been set up to oversee the development of the initial Town Investment Plan, consultations, and the subsequent work on the project business cases. The Plan sets out priorities for potential investment according to local needs and what the fund can support. The Investment Plan was submitted in October 2020.

On the 3 March 2021 the Cheadle Board was offered up to £13.9 million towards 3 of its proposed projects:

• new railway station
• strategic north / south cycleway / walkway
• innovative Eco Business Park at Bird Hall Lane

A project confirmation process took place in May 2021 with a conditional funding offer made in July 2021. Further consultations have been held to feed into project design and the preparation of detailed business cases for each project. These cases were submitted to the Department for Levelling Up, Housing Communities (DLUHC) at the end of March 2022.

Following a clarification process all three project business cases have now been passed by DLUHC, thus securing the £13.9 million Towns Fund. You can read our news article for more information.

Consultations

During 2020, the Cheadle Towns Fund Board (CTFB) held an extensive consultation exercise where the public and businesses were asked about the issues facing Cheadle and how the area could best be improved. This showed strong support for sustainable travel, better connectivity and measures to tackle congestion.

76% of respondents suggested that accessibility to the wider rail network should be a priority, and specifically, that a new railway station should be provided. Traffic movement/management, new or improved retail space and improved cycle ways and facilities were also in the top 4 areas for improvement.

You can email cheadletownsfund@stockport.gov.uk to request a copy of the Cheadle Towns Fund Research document.

In autumn 2021 we consulted with the community about the new railway station and walking and cycling proposals. The proposals were supported and the responses were presented to Cheadle Area Committee in November 2021. You can read the consultation results report on our democracy webpages.

The Town Fund area

For more information about the boundary for the Cheadle Town Fund area view our boundary map (PDF 2.5Mb).

The Cheadle Towns Fund Interim Board first met on the 31 January 2020.

Terms of reference

The board formally approved the terms of reference at a meeting on the 23 October 2020. Read the terms of reference (PDF 174Kb).

Read the minutes from the board meetings.