Peel unveils it’s vision for large scale PRS and Waterfront living
Peel Land and Property has today announced ambitious plans to deliver over 30,000 residential units across its Strategic Waters sites which could bring a total investment value of £4.5 billion over the next 30 years.
Peel is seeking institutional and residential development partners to help deliver a mixture of medium and high rise apartments as well as town houses over its seven Strategic Waters sites in Manchester, Liverpool, Chatham, Glasgow, Wirral, Trafford and MediaCityUK.
These Strategic Waters sites benefit from either consented planning permissions or approved regeneration masterplans. The portfolio of units is made up of 23,500 within the Mersey Waters Enterprise Zone (Wirral and Liverpool) and 7,000 new homes in Greater Manchester at MediaCityUK, Trafford Waters and Manchester Waters. Glasgow Harbour has approval for up to 1,400 dwellings while Chatham Waters has outline approval for 1,000 units on the River Medway.
Peel’s vision is to regenerate and transform these former industrial sites on dockland, canal and river banks into attractive and sustainable waterfront living locations that will bring new infrastructure, public realm and environmental improvements. These mixed use schemes will also feature commercial, retail, educational and leisure opportunities.
Peel’s Director of Residential Development Neil Baumber who was appointed in 2015 to co-ordinate and manage the procurement of these development partnerships said: “The ‘Strategic Waters’ sites give us a fantastic portfolio of locations to develop exciting new residential dwellings. This is all about regenerating urban areas, where there is a shortage of housing, into attractive waterfront locations where young professionals, families and key workers can live. These units will be a mixture of tenure from institutional and individual PRS to open market sale.”
James Whittaker – Peel Land and Property Group Development Director added: “From the start of the recession in 2008 Peel have been undeterred in its investment of our ‘Strategic Waters’ sites, securing planning permission in readiness for the return of the residential market. Now with financial institutions focused on investing in this sector it will enable Peel to fast track the development programme on our consented residential and mixed used sites. Peel has already built up a number of successful residential partnerships with X1 and Moda Living among others and has also delivered its own residential stock through Peel Living.
“Scale is attractive to the larger institutions and developers and we can deliver that. The fact these schemes are by water, adds value, it’s where people can live work and socialise.”