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Chinese developer supports key US$1.1b Manchester project
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AMBITIOUS plans backed by a China-based company were unveiled yesterday for a redevelopment project at a key gateway site into Manchester costing over 700 million pounds (US$1.1 billion).
Real estate property developer Top Spring International is a key player in the project as part of a joint venture with developers, Scarborough and Singapore-based property and investment group Metro Holdings.
The scheme will see 2,000 new homes built along with 70,000 square meters of commercial development, all centered around three canal basins at Middlewood Locks in Salford. Commercial uses will include offices, hotel, shops, delicatessens, restaurants, a convenience store and a gymnasium.
The development site of almost 10 hectares is on the border between Salford and neighbor Manchester, meaning residents of Middlewood Locks will be within walking distance of a city said to be at the epicenter of the proposed new “Northern Powerhouse.”
A launch party yesterday to unveil the project was attended by the Mayor of the City of Salford Ian Stewart.
His council has already backed the project and the aim now is to start work on the scheme before the end of 2015.
The project will also involve the creation of extensive new public realm in the form of canal-side footpaths and cycle ways connecting directly into Manchester city center.
“This is a unique site with so much potential to deliver new homes, commercial opportunities and new jobs whilst maximizing our riverside and canal assets,” Stewart said.
“It is one more step toward the extensive transformation of this part of the regional center which will enable the cities of Salford and Manchester to deliver the growth necessary to meet the economic challenges we face at a national level.”
Hong Kong-listed Top Spring has 25 projects in China and Manchester.
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