On 17 August, Hooley formed Trafford Park Estates Ltd, transferring his ownership of the park to the new company – of which he was the chairman and a significant shareholder – at a substantial profit. The initial plans for the estate included a racetrack, exclusive housing and a cycle works, along with the development of the ship canal frontage for "all types of trade including timber". By that time the ship canal had been open for two years, but the predicted traffic had yet to materialise. Hooley met with Marshall Stevens, the general manager of the Ship Canal Company, and both men recognised the benefit that the industrial development of Trafford Park could offer to the ship canal, and the ship canal to the estate. In January 1897 Stevens became the managing director of Trafford Park Estates. He remained with the company, latterly as its joint chairman and managing director, until 1930.