Work has started on a £130m housing development which will bring hundreds of new homes to Merseyside.
Miller's Quay will be made up of 500 one and two bedroom apartments and is a major part of the Wirral Waters scheme, believed to be one of the largest regeneration projects in the whole of the UK. Wirral Waters is the centre of Peel L&P’s 30 year strategy which will see a 500 acre brownfield site and former dockland transformed into a mixture of residential, commercial and office buildings, with enhanced public realm green space.
The project has received investment from the Pension Insurance Corporation (PIC), and it's hoped the scheme will create up to 20,000 permanent jobs in the Liverpool City Region (LCR). The beginning of construction was marked by a ground-breaking ceremony on Monday (July 11) with Steve Rotheram, Metro Mayor of the LCR and Councillor Jeff Green, Mayor of Wirral amongst those in attendance.
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James Whitaker, Executive Director of Development at Peel L&P, said : “This is a truly landmark moment for Wirral Waters with construction on this much anticipated residential scheme now starting. Miller’s Quay is a major scale, catalytic and highly sustainable residential development that we consider to be a great example of brownfield regeneration.
"This project will pave the way for a number of waterside residential schemes in the new Northbank neighbourhood and it will also deliver considerable social value through comprehensive engagement with both Wirral Met College’s Construction Campus and local supply chains.”
Miller’s Quay will use a range of energy efficiency and low carbon technologies to reduce carbon emissions, including solar power systems, and air source heat pump. The Build-to-Rent scheme is aiming to provide rents on the affordable units at a maximum of 80% of open market value, which Peel hopes will deliver significant social impact in Birkenhead and the wider Wirral peninsula.
Hayley Rees, Managing Director of PIC Capital, said: “The development of Miller’s Quay is a model for how long-term investors can play a key role in the levelling up agenda and create considerable social value. The site will provide much needed housing for the Wirral and offers secure long-term cashflows to back the pensions of our 300,000 policyholders, some of whom live in the region.
"We hope that the regeneration lease structure used to finance Miller’s Quay can be adapted across a range of sectors and projects for other local authorities, as well as housing associations, universities, NHS trusts and other organisations looking to unlock funding for regeneration schemes around the country.”
The name of the new residential area is a nod to the "industrial heritage" of the Northbank site, which has housed various industries in its history, including a smalt works and a flour mill. Construction company Graham is the contractor for the scheme.
Mayor of Wirral, Cllr Jeff Green, said: “This is another key milestone in the story of Wirral’s regeneration. These new homes, on a brownfield site, show that our ambitions for the Left Bank area from Bromborough to New Brighton through Birkenhead, Seacombe and Wirral Waters, are coming to fruition and delivering the developments people want and need.
"This shows the value of our work with partners including the Government. Miller’s Quay is also a real statement of confidence in the future of Wirral Waters and the whole Left Bank area, one which will provide homes – including 100 affordable homes – for hundreds of people.”
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