Grand Central Stockport was owned by Norwich-based private property company Targetfollow, who acquired the complex for £10.8m in 2004. In January 2011, after lack of progress on the development scheme, Stockport Council purchased the complex. In December 2011, Stockport Council announced that Muse Developments, the urban regeneration division of construction group Morgan Sindall had been selected as the preferred developer with a report to be presented to the council the following week. The revamped regeneration plans include an office quarter for the town centre, a hotel, public space outside the railway station. In addition, the redevelopment would also include a multi-storey car park and to make the site into a more attractive gateway into the town centre. The new redevelopment plans are valued at approximately £145m.