Published: 19 September 2008
The Bishop of Manchester has opened a prime retail and office space in Bury that will provide long-term rental income, helping to reduce parish share.
The Diocese of Mancehster has invested over £2 million as part of a redevelopment of The Rock in Bury, confident that it will generate a good rental imcome for years to come, helping to reduce the amounts parishes pay towards the cost of their clergy.
The new building is adjacent to the Rock Triangle, is a multi-million pound redevelopment of Bury town centre which will include a multi screen cinema, flats and a huge Debenhams store.
Opening the building, the Bishop of Manchester, the Rt Revd Nigel McCulloch, said, “This building is a real sign of true regeneration here in Bury. I am proud that we are able to be a part of that regeneration.”
In Manchester Diocese, income from glebe (land, property and investments) in 2005 amounted to £1.2 million, representing 10 per cent of total income and worth about £4000 to each parish. The rental income from St John's House will contribute a substantial amount of that figure.
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