A LOAN of nearly £3.95m has been agreed which should see the former Bury Magistrates courthouse redeveloped.

Architects were granted planning permission by borough planners for the Tenters Street complex to be converted into 39 one-bed and two-bed apartments and 10 separate three-bedroom homes last year.

Court cases have not taken place at the building since 2017 - when criminal matters were transferred to be heard at Manchester and Salford Magistrates Court.

Now members of the Greater Manchester Combined Authority (GMCA), as part of their housing investment loans funds, designed to kickstart keynote development proposals have authorised a handout designed to see progress made on site.

Jubilee Way Estates, a venture established by Graham Cowand and Hyman Weiss, registered to Heaton House, in Bury Old Road, Crumpsall, are the beneficiaries.

More than £500,000 in planning gain monies, otherwise known as section 106 funds, could also follow, the GMCA's board has been told.

Paul Denett, the Salford City Mayor and housing portfolio holder for GMCA, said in a report: "The loan will support a Bury based SME developer.

"There is a maximum £556k Section 106 payment, subject to the outcome of a viability assessment."

The courthouse was originally acquired by a linked outfit, Welcome Estates, from Homes England in 2018. The same outfit converted the old Ribblesdale Medical Centre for housing.

Architects have previously said the £3m conversion project for the structure should take around a year to complete.