Middlewood Locks Development to Continue With '30M Homes England Loan
A '30m Homes England loan has been agreed to continue the transformation of'Middlewood Locks'in Salford, creating 189 new homes.
The Homes England loan agreement will see Middlewood Locks KLM, a partnership between Scarborough Group International, Metro Holdings and Hualing Group, continue with the third phase of the development. This will see new 189 new homes built on the 25-acre'brownfield site.
Once completed, Middlewood Locks will offer over 2,000 homes and 900,000 sq. ft of commercial space. This includes a hotel and leisure amenities with 4.5 acres of public event space.
A short walk from both Salford Central station and Spinningfields business district, the site incorporates the waterside setting of the restored Manchester, Bolton, and Bury canal.The funding comes from the government's Levelling Up Home Building Fund, which provides development loans to'help diversify the market
Planning consent was granted last year for the Railings at Middlewood Locks following the successful completion and sale of 1,117 apartments in phases one and two. The neighbourhood is already home to over 1,300 people living and working at Middlewood Locks.
This deal marks the second commitment made to Middlewood Locks, after the first phase of the project benefitted from both short and long-term Homes England loans to support the creation of 1,100 homes, supported by vital infrastructure.'A fantastic example of our brownfield-first plan to transform disused land into thriving communities'
Housing minister Rt Hon Stuart Andrew MP said:
'I am pleased to see the progress being made at Middlewood Locks, a major regeneration project for Salford that will deliver vital new homes for the city, create jobs and boost the wider economy. It is a fantastic example of our'brownfield-first'plan to transform disused land into thriving communities.'
Peter Denton, chief executive at Homes England, said:
'With the first two phases of Middlewood Locks now complete, we're already seeing the transformational impact that this scheme is having on the local area. This latest funding will help to bring forward the next phase and add a new community to the already vibrant neighbourhoods created there.'
Source: PBC Today'