Thursday, 18 June 2015
Scarborough launches €976 mln mixed-use development (UK)
Scarborough Group International today reveals plans for its 24-acre Middlewood Locks development, a new residential and commercial neighbourhood located at the western gateway to Manchester’s Central Business District.
Middlewood Locks received planning consent in March 2015 from Salford City Council to deliver a new mixed-use community of around 2,000 new homes and up to 750,000 ft² of commercial development space (69.677 m²).
Scarborough is preparing a planning application for the first phases of the development comprising 550 homes, and some 29,000 ft² (2.694 m²) of commercial space with canal side footpaths and cycle ways connecting to the city centre. The application will be submitted in Q3 2015 with a planning decision expected in Q4 2015. If approved Scarborough will start work on the site towards the end of this year.
Middlewood Locks, which has a gross development value exceeding £700 mln (approx.€976 mln), is being developed by FairBriar International, a joint venture between Scarborough, Top Spring International Holdings Limited, a Hong Kong-listed real estate developer in the People’s Republic of China, and Metro Holdings Limited, a Singapore-listed property development and investment group.