Homes England has agreed a £30m loan to Middlewood Locks KLM to help bring forward the regeneration of a 25-acre brownfield site in Salford, Greater Manchester.
The agreement with Middlewood Locks KLM, a partnership between Scarborough Group International and its joint venture partners Metro Holdings and Hualing Group, will see 189 new homes built as the third phase development.
Once complete, Middlewood Locks will provide more than 2,000 homes, 900,000 sq ft of commercial space including a hotel and leisure amenities, and 4.5 acres of public realm and event space.
Housing minister Stuart Andrew said: “The regeneration of our towns and cities is a key part of our levelling up mission. 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.”
Homes England chief executive Peter Denton 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. It is urban regeneration schemes like Middlewood Locks that will support the levelling up of towns and cities, creating places where people want to live, work and play.”
The funding comes from the government’s Levelling Up Home Building Fund, and marks the second commitment made by Homes England to Middlewood Locks.
Scarborough Group chairman Kevin McCabe said: “Securing this funding from Homes England marks a significant step forward in the expansion of our award-winning, mixed-use neighbourhood at Middlewood Locks. Not only does it reinforce our long-standing relationship with Homes England, it also underlines our joint aspiration for creating a vibrant city centre community through the delivery of a further 189 high-quality homes, together with supporting amenity space and public realm.”
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