Scarborough International Properties and BCEG have secured an £85M contract to build the first phase of the Middlewood Locks development in Manchester, UK.
Phase 1, which secured detailed planning permission from the Salford City Council in December 2015, will entail an investment of over £150M.
It will involve the construction of 571 homes and associated commercial space, including convenience shops, restaurants, and new public realm.
Scarborough chairman Kevin McCabe said: “We are delighted to have signed BCEG for the first phase of our Middlewood Locks development. This marks the culmination of many years of hard work and collaboration between all involved, both in the UK and China.”
Phase 1 is anticipated to be completed in October 2018, and create over 300 jobs in the region.
The Middlewood Locks development is being developed around three large basins of the Manchester, Bolton and Bury Canal, which connects to the River Irwell. Overall, the 24.5-acre development will include 2,215 new homes and 83,600sq m of commercial development space, including offices, a hotel, shops, restaurants, a convenience store and a gym.
* For more information on the UK construction market, visit the Construction Intelligence Center Report Store.