28 Jan 2014
£60 million for housing and commercial property in Salford
English City Fund
As part of our commitment to playing a greater role in housing and infrastructure investments in the UK, providing long-term capital to energy, education, transport, housing and health sectors, we’re part of the English Cities Fund (ECF) - a partnership with the Homes & Communities Agency and Muse developments.
The ECF currently operates in five cities: Liverpool, Plymouth, London (Canning Town), Salford and Wakefield.
The fund has just agreed a £60 million multi stage development in Salford with the council, which will result in just under 1,000 new homes being built. We’ve also agreed to fund the new Council offices for Salford, and to pump prime other commercial developments in the area. This is a significant investment in Salford, and will help to kick off the city’s regeneration.
Investing in All Forms of Housing Right Across the UK
The homes in Salford are being built to sell, but in Canning Town we’ve been working with housing associations to produce affordable rental property. Wakefield is more about build to rent, and in Liverpool we have delivered both rental and owner occupier property, as well as work to quantify the social investment of our activities.
There is a shortage in all forms of housing in the UK – affordable, elective rental, owner occupation - and the regeneration and building carried out by ECF is just one of ways we’re helping to tackle this problem.
Nigel Wilson, our Group CEO said: “We support Garden Cities: we need imagination from all sides to create the right homes and communities for a growing population. We also support 'towns within cities' – high-quality purpose-built communities within urban areas.
“The UK needs innovative housing solutions. Demand far outweighs supply, and if we’re going to tackle this problem we should look at what has worked in the past, and see how it can be updated and improved.”