Contracts have been exchanged between Crest Nicholson and the Homes and Communities Agency allowing work to start on a new Morrisons supermarket, 329 homes  and restaurant space.

The deal unlocks £61m after Morrisons supermarket agreed to take a long lease on the supermarket to be constructed at the riverside development at the former Vosper Thornycroft shipyard in Woolston.

Crest Nicholson has built the residential-led first phase of Centenary Quay and the construction of the second phase comprising apartments, a nursery and a new library is well underway.

The HCA has invested significantly in this phase of the project, including £2m via the National Affordable Homes Programme to deliver 72 affordable homes and a loan of £1.96m from Get Britain Building to support a further 56 homes on the site.

The affordable homes will be delivered by Radian and Spectrum Housing Group, who are local Registered Providers and Crest’s partners on the whole scheme.