The next major phase of development at Middlewood Locks, our multi-award-winning £1 billion mixed-use regeneration neighbourhood in Salford, is set to begin following approved funding from The National Housing Bank.
Alongside out joint venture partners, Metro Holdings, we have a well-established partnership with Homes England, the parent organisation of the National Housing Bank, which has previously provided funding for earlier phases of development, all since fully repaid. Including the latest provision of funding, a total of £84.2m has now been loaned in support of the various phases of Middlewood Locks contributing to the delivery of more than 1,300 completed new homes and accelerating delivery of up to 909 further new homes.
This funding package will facilitate further development on 10 acres of land adjacent to Manchester City Centre, strengthening the link between the prospering neighbourhood near Salford Central station, St. John's, and Manchester’s Spinningfields business district.
Celebrating its 10th anniversary and a decade of ongoing development, Middlewood Locks has transformed a formerly disused brownfield site encompassing the three large basins of the Manchester, Bolton & Bury Canals, significantly enhancing the waterways and rejuvenating the Ordsall Chord railway infrastructure.
Middlewood Locks is now home to over 2,600 residents across 1,306 homes, complemented by retail and leisure amenities and an expansive public realm. The development has received both national and regional recognition for its positive social impact and for facilitating connectivity between Salford and Manchester, offering secure and pleasant walking and cycling routes between the two cities.
The new funding will be utilised for site preparation and enabling works intended to expedite the delivery of up to 909 additional homes at Middlewood Locks. This includes comprehensive design work to support the planning application for 'Gateway 2,' which proposes 909 new homes across two further phases of residential 'Brick Fields Yard' and 'Lockgate Wharf,' with ground floor commercial and amenity space.
Brick Fields Yard is set to comprise 659 apartments in one, two, and three-bedroom configurations, including duplex homes, all positioned around a private raised podium garden exclusively accessible to residents. The development features two separate buildings of 27 and 32 stories, offering high-quality accommodation with access to fantastic resident amenity spaces and offering world class accommodation.
Lockgate Wharf will feature an additional 250 luxurious canalside residential homes, comprising a mix of one, two and three-bedroom apartments, centred around a private residents’ raised podium garden and situated beside a ½ acre public park. Lockgate Wharf is adjacent to the lock connecting the Manchester, Bolton& Bury Canal with the River Irwell.
Paul Kelly, Managing Director at Scarborough Group International, said,
“We are delighted to extend our long-standing and very successful collaboration with Homes England as one of the first pilot schemes since the launch of the National Housing Bank in March. This funding arrangement marks a significant milestone in realising the full potential for Middlewood Locks as an important driver in creating sustainable new communities and much-needed new homes.
“We have already delivered a thriving new neighbourhood that we are extremely proud of, and look forward to the next ten years of investment that delivers on the National Housing Bank, Homes England housing agenda with measurable sustainable value. We hope to be able to start on site by early next year, with the first phase of homes available for occupation in 2030.
The National Housing Bank is a new public finance institution to speed up the creation of housing and communities, as well as support the revitalisation of towns and cities throughout England. Established by the UK government, it collaborates with house builders, developers, investors, and registered providers to provide up to £16 billion in debt, equity, and guarantees. The bank also works with [Regional] Mayors through Homes England’s regional framework to enhance partnership efforts. As a subsidiary of Homes England, the bank draws on the Agency’s expertise to help deliver over 500,000 homes and numerous major regeneration and mixed-use projects, expected to unlock more than £53 billion in private investment over the coming decade.
Nigel Barclay, Director – Loans, National Housing Bank, said:
“The initial three phases of Middlewood Locks have been highly effective in delivering essential new homes, revitalising previously unused land and strengthening the connection between Salford and Manchester city centre.
“The significant positive impact on the local area is clear, and this latest funding accelerates further housing delivery within this vibrant neighbourhood.
“Urban regeneration projects such as Middlewood Locks play avital role in supporting new development in towns and cities, fostering communities where individuals are eager to live and engage socially. We continually seek collaboration with partners who share these goals and ambitions.”
The tenth anniversary of Middlewood Locks coincides with Scarborough Group International's own 50th anniversary, marking significant milestones for both the development and the company behind it. Over the past five decades, SGI has established itself as one of the UK’s leading regeneration and placemaking specialists, delivering transformative projects that unlock the potential of underused urban land and create long-term economic and social value.
