Countdown starts for Watch Factory development
KNOWSLEY Housing Trust (KHT) has unveiled plans to begin the first phase of development on its new site in Prescot.
KHT, part of the First Ark Group, and partners lliad, Knowsley Council and Harbur Construction will build an initial 70 new extra care homes with accompanying extra care facilities at a total investment cost of £10.8m at The Watch Factory.
KHT will be investing £7.4m into the development and has attracted a £3.4m funding injection from the Department of Health, Recycled Capital Grant Fund (RCGF) and Knowsley Council.
First Ark Group says it has a commitment to investing in homes for people with varying care needs is more important than ever, with the National Housing Federation recently estimating that over 100,000 extra homes for older people will be needed in the housing association sector alone in the next 15 years.
The first phase of the Watch Factory development on Albany Road will offer residents looking for affordable rent 54 one-and two-bed apartments and 10 two-bed bungalows, all of which have been designed to cater for the future accessibility and care needs of those aged above 55.
A further six two-bed bungalows will be available for sale through Oriel, also part of the First Ark Group, to residents who wish to purchase a share of their own home, rather than rent.
Under the Older Persons Shared Ownership Scheme, aspiring home owners can buy between 25 and 75% of their property.
As an extra care facility designed to help residents enjoy living independently, the new development will also provide a number of communal facilities, including a restaurant, lounge areas, a hairdresser, activity rooms and landscaped outdoor spaces.
The historic factory was once the original headquarters of the Lancashire Watch Company, which was founded in 1889 and is now a Grade II listed building. The 6.75 acre site, which was known as the hub for watch making in England until its closure in 1910, will be completely regenerated around the focal point of the listed structures.
Ian Thomson, executive director at KHT, said: “Our new site is steeped with rich heritage and it’s a real achievement for our local communities that we can celebrate and retain the legacy of the Lancashire Watch Company whilst at the same time building much needed accessible homes for our older people who have extra care needs.”
Phase one of The Watch Factory is due for completion in summer 2016. A second £6m phase of the development is planned to commence later in 2016 and will create a further 62 new homes, including properties available via shared ownership and outright sale.
