£1bn development site providing impressive social and economic impact
The £1bn development of Middlewood Locks, is only midway through, but its economic impact is already considerable.
To date 5,555 jobs have been supported through the delivery of 571 new homes that now house around 750 residents and a further 546 new homes that will be ready for occupation this summer. Seven Bro7hers Beer House and a Co-op convenience store are fully operational and thriving as part of the growing amenities in the neighbourhood.
An independently commissioned report on the socio-economic value of phase one delivery at Middlewood Locks shows that more than 900 hours were committed by preferred contractor Beijing Construction Engineering Group International (BCEGI) to community and CSR activities.
The team delivered 66 community-based activities where 1,300 local people participated, and 40 new educational and training opportunities were created.
Further to the report, 66% of the BCEGI workforce for phase one came from the immediate Salford area and 98% of waste removed from the site was recovered for recycling.
Developer Scarborough Group International also sponsored a full Masters Bursary through a design competition and is supporting two apprentices studying a degree in Building Surveying, both with the University of Salford.
The total local economic benefit to the Greater Manchester sub-region for phase one at Middlewood Locks is £131.5m, representing an LM3 Ratio of £1.54 for every £1 of investment.
Approximately 37% of the total project turnover was spent with suppliers from the sub region, generating an additional £46.5m for the Greater Manchester economy.
The 25-acre scheme, between Salford and Manchester city centre, has been five years in development. Phase one has completed, phase two is due to complete this summer and phase three is about to start on site.
Middlewood Locks is a joint venture between Scarborough Group International (SGI), Metro Holdings Limited, a Singapore-listed property development and investment group, and Hualing Group, based in Urumqui, Xinjiang, in China.
The partnership has made ongoing commitments to Salford City Council throughout the next seven years of delivery for the overall project.
Kevin McCabe, SGI chairman, said: “We are delighted to reach such an important milestone in the delivery of Middlewood Locks with some really tangible evidence of its impact on the local economy 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 our partners to impact on the local community in very positive ways.”
Mr Yu Dongwen, lead director at BCEGI, said: “It is wonderful to see such great progress at Middlewood Locks for both construction delivery and in meeting all of our important social value commitments.”
When completed, Middlewood Locks will provide a total of 2,215 new homes and 900,000 sq ft of commercial space, including offices, hotel, shops, restaurants, and gym.
With landscaped areas of green public and private space, the scheme is being developed around three large basins of the Manchester, Bolton and Bury Canal which connect to the River Irwell and is a short walk from the central business district and retail amenities of Manchester city centre.