The first phase of the £700m Middlewood Locks regeneration scheme (pictured) in Salford, which is backed by Far East investors, has been given the green light.
FairBriar International has been granted detailed planning consent by Salford City Council for phase one, which involves the development of approximately 571 homes and 15,154 sq ft of commercial space, including convenience shops and restaurants, as well as extensive public realm in the form of canal-side footpaths and cycleways. Phase one covers three of the 12 development plots approved in principle on the 24-acre Middlewood Locks scheme.
FairBriar International is a joint venture between the McCabe family’s Scarborough Group International, China-based Hualing Group and Singapore-listed Metro Holdings.
The Middlewood Locks scheme was granted outline planning consent in March 2015. The project involves creating a new mixed-use neighbourhood that would provide approximately 2,000 new homes and more than 750,000 sq ft of commercial development space, including offices, hotel, shops, restaurants, a convenience store and gym.
The development, designed by architectural practice WCEC Group, is centred around three large basins of the Manchester, Bolton and Bury Canal. The site has a gross development value of more than £700m and is expected to create more than 7,000 jobs for the local region.
Chancellor George Osborne announced that Hualing had agreed to provide the financial investment required to unlock the Middlewood Locks scheme during a visit to Urumqi in north-west China in September 2015.
Lee Savage, development director of Scarborough, said: “This is fantastic news. Over the past year, we have worked closely with the members and officers of Salford City Council and consulted with all the local communities and interested groups to achieve this milestone for Middlewood Locks.
“We can now concentrate on delivering a development of which Salford and Greater Manchester can be truly proud.”
Construction of the first phase can now start in early 2016 with residents expected to move in from the middle of 2017.