£260m local economic benefit for Greater Manchester delivered so far by Middlewood Locks development
Multi-award-winning, mixed-use neighbourhood Middlewood Locks has delivered more than £260 million local economic benefit for Greater Manchester a report has confirmed. The new neighbourhood, which is midway through development has also generated more than 6,000 jobs through the delivery of 1,117 new homes set in landscaped public realm.
Middlewood Locks is a £1bn vibrant new neighbourhood located where the two great cities of Salford and Manchester meet. It is being delivered by Scarborough Group International (SGI) with joint venture partners Metro Holdings Limited, a Singapore-listed property development and investment group, and Hualing Group, based in Urumqui, Xinjiang, in China.
When completed, the 25-acre multi-award-winning neighbourhood will provide a total of 2,215 new homes and 900,000 sq ft of commercial space, including offices, hotel, shops, restaurants, and gym.
The first phase of 571 homes was completed in September 2018. Phase two of 546 homes, completed in November 2021 and was purchased by award-winning PRS operator Get Living which selected Middlewood Locks for its first PRS venture outside of London.
Both phases are sold out and a new community of approximately 1,300 residents are now enjoying living at Middlewood Locks. Iconic brewery brand Seven Bro7hers has opened its first beer house at Middlewood Locks and along with the Co-op food store and 92 Degrees coffee shop, are thriving.
The £260M local economic benefit for Greater Manchester is calculated based on BCEGI’s community and Corporate Social Responsibility (CSR) activities, added value by using local supply chains, labour and apprenticeships, and through engagement with local schools and colleges. This represents an ML3 Ratio of £1.51 for every £1 of investment to the Greater Manchester economy.
Simon McCabe, Chief Executive at SGI, said, “We are delighted to see such fantastic, tangible evidence of how Middlewood Locks has impacted on the local community so far. These figures not only demonstrate our huge commitment to providing much needed new homes in the region but also the results of considerable time invested by us and our partners.”
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