Middlewood Locks in Salford will continue to undergo renovations thanks to a £30 million loan from Homes England, the government’s housing and regeneration department.
According to the agreement with Middlewood Locks KLM, a joint venture of Scarborough Group International, Metro Holdings, and Hualing Group, the third phase of the 25-acre brownfield property will include the construction of 189 additional houses.
Salford’s Middlewood Locks is a large regeneration project that is being built out in several stages.
When finished, it will provide more than 2,000 houses, 900,000 square feet of commercial space, a hotel, and recreational amenities all situated in a tranquil canal-side setting with 4.5 acres of public realm and event space.
The location, which is conveniently close to Salford Central station and Manchester’s Spinningfields commercial center, has a significant amount of public realm included into the design, including the canal’s restored waterside setting.
Stuart Andrew, MP, Minister of Housing, said:
Our leveling-up aim is around the regeneration of our towns and cities. I am happy to see that Middlewood Locks, a significant Salford regeneration project, is progressing.
This project will bring the city much-needed additional housing, as well as jobs and a boost to the overall economy. It is a wonderful illustration of our strategy to develop thriving communities on brownfield sites first.
The Railings at Middlewood Locks received planning approval last year after phases one and two were successfully finished and sold out, resulting in the construction of 1,117 units.
Over 1,300 people live and work in Middlewood Locks, a multi-award winning new neighborhood, and recent research shows a £260 million impact to the Greater Manchester economy thus far.
Homes England’s chief executive, Peter Denton, stated:
We can already see how Middlewood Locks is transforming the neighborhood once the first two phases of the project were finished.
The most recent grant will help advance the next stage and construct a new community in addition to the already dynamic neighborhoods currently established there.
Middlewood Locks and other urban regeneration programs will help towns and cities rise to a higher standard and become locations where people want to live, work, and play.
The money comes from the government’s Levelling Up Home Building Fund, which offers small- to medium-sized homebuilders development financing to help the market become more diverse and create much-needed homes and communities.
Following the first phase of the project, which benefited from both short- and long-term loans to facilitate the building of 1,100 dwellings backed by essential infrastructure, this agreement represents Homes England’s second commitment to Middlewood Locks.
agency’s conviction in the project’s significance for the city and the surrounding area is demonstrated by the agency’s approval of both of these loans for one project, which is unusual.
Chairman of Scarborough Group International, Kevin McCabe, stated:
Our award-winning, mixed-use neighborhood at Middlewood Locks is expanding thanks to the funds we received from Homes England.
It not only strengthens our long-standing partnership with Homes England, but it also highlights our shared goal of building a thriving city center neighborhood by delivering an additional 189 high-quality homes along with supporting amenity space and public realm.
Middlewood Locks is just one of the projects Homes England is sponsoring in Salford with a broader commitment to place-making.
A £2.5 billion, 240-acre project at Salford Crescent, in collaboration with Salford City Council and the University of Salford, has also been secured through the English Cities Fund, Homes England’s long-standing partnership with Legal & General and Muse Developments.
This project will add more than 3,000 homes. In addition, it will provide swaths of green space, a new multi-modal transportation hub, 1 million square feet of workplaces, retail, and leisure space, and up to 1 million square feet of space for innovation and collaboration.