Middlewood Locks fast-tracked with £35m HCA loan

Aaron Morby 11 months ago
Share

The Homes and Communities Agency is releasing £35m to fast-track the £1bn Middlewood Locks scheme in Manchester.

The cash injection will pave the way for phase 2 to start and bring forward phase 3 of the scheme, as well as releasing over £9m for enabling works across the whole development site, which will eventually deliver 2,215 homes.

Chinese contractor Chinese company BCEGI has topped out the 571-home phase one blocks and is now preparing to start phase two.

This phase will provide 546 new, one to three bed homes, across four 10-storey buildings, totalling 360,000 sq ft.

Middlewood Locks is being developed by FairBriar International, a joint venture led by Scarborough International Properties (50%) with Metro Holdings of Singapore (25%) and Hualing Group of China (25%).

Joint Chief Executive of Scarborough International Properties, Simon Marshall, said: “We are very appreciative of the HCA’s support which will enable us to accelerate the delivery of much-needed homes for local people.

HCA Chief Executive, Nick Walkley, added: “This loan is a great example of how we can help developers create new communities which will provide more of the homes that people need, and do so quickly –  completing almost 600 homes by this time next year.

“As the wider site is set to deliver more than 2,200 homes, a key part of the funding was to support the infrastructure works as this will enable the future residential phases to be brought forward faster.”

Middlewood Locks is a 25-acre landmark development, which will provide a new waterside neighbourhood around three large basins of the Manchester, Bolton and Bury canals, connecting to the River Irwell and a short distance from the central business district and shops of Manchester city centre.

It will also provide 900,000 sq ft of commercial space, including a hotel, together with all the amenities of a new urban neighbourhood.

 

Latest news

Willmott homes arm fined £1.25m over gas blunder

Court hears how residents were put at risk of carbon monoxide poisoning
2 days ago

Eggborough gas-fired power station gains consent

Work could start by summer next year at North Yorkshire site
1 day ago

£100m Aberdeen Broadford Works village plan approved

Demolition work to start at historic former textile factory site
1 day ago

Go-ahead for £160m Leeds Monk Bridge scheme

McAlpine is on board as preferred contractor for the project
2 days ago

Opinion: Safety fines are getting out of control

We need more effective ways to improve safety than ever higher penalties
2 days ago

Shake-up for £2.9bn MoD hard FM contracts

Post-Carillion bid race for MoD estate and housing regional FM contracts
2 days ago

Wates set to start on £53m Portsmouth sports centre

Contractor understood to have won contract race for new university complex
3 days ago

Lack of skilled roofers prompts Marley new launch

Easy to install roofing roll compensates for lack of skilled workers
2 days ago

Caddick takes workforce plastic-free

Workers given aluminium drinks bottles in bid to bin single-use plastics
2 days ago

Wates wins 7th Leeds Wellington Place job

Work will start of £35m 4 Wellington Place project next month
3 days ago

Kier targets £50m disposals to cut £375m debt

Firm sets out debt reduction plan in robust year-end results
3 days ago

Betting Spy: Spurs to shrug off recent troubles

Tottenham can kick-start a win treble with Leicester and Crystal Palace
2 days ago

Keltbray concrete structures boss exits

Keltbray Structures MD Gordon Dunne on gardening leave
3 days ago

141 jobs axed as M&E specialist George Birchall fails

Larger FM business George Birchall Service avoids administration
3 days ago

Morgan Sindall bags £384m London scheme first phase

Hackney scheme includes an academy, leisure centre and six blocks of flats
3 days ago

Mace confirms £180m Olympic Park East Village deal

Firm will fine-tune its 'rising factory' method on the No6 East Village project
3 days ago

Contractor trials mixed reality headsets on school site

BIM and Microsoft HoloLens used to check M&E work
4 days ago

PM pledges extra £2bn for housing associations over 10 years

Longterm funding will be made available from 2022-2029
4 days ago

Jacobs to lead Edinburgh city centre transformation plan

Team will set out plan for historic overhaul of streets and public space
4 days ago

Costain and Galliford Try fined £2.8m after worker loses toes

Massive fine after accident at Cheshire water treatment works
4 days ago

Boost your online presence – join the new Enquirer Directory

New site for suppliers and buyers will showcase their products, services and latest stories
5 months ago

Van Elle shareholders stage AGM revolt

Shareholders block board's ability to issue new shares for acquisitions
4 days ago

£100m Bristol sports arena plan at Ashton Gate stadium

Sports and convention centre will be attached to Lansdown Stand
4 days ago

Balfour Beatty raises £43m from hospital stake sale

Balfour sells 50% stake in Fife Hospital PPP
4 days ago

Kier offloads pensions unit for £3.5m

Third party pension management business administers half of all police pension
5 days ago

Willmott Dixon clinches £38m Winchester sports centre

Work to start in Spring 2019 on major leisure and sports complex
4 days ago

Architect TP Bennett reaches record turnover

Manchester office grows on back of city building boom
4 days ago

Brexit migration plan would “cripple construction”

Industry pleas ignored over need for steady flow of low-skilled site workers
5 days ago

Wates wins £16m Stockport college revamp

Work is due to start in the early new year on Wellington Road Campus
4 days ago

Balfour Beatty pioneers plastic pylons in Scotland

140 composite poles installed by new helicopter crane in just five days
5 days ago

Contractor services