Salford City Council in the UK has granted approval for Henley Investment Management’s £1.3bn ($1.7bn) Regent Park development, a major mixed-use project planned for the existing Regent Retail Park site on the edge of Manchester city centre.
The scheme will see the redevelopment of the 130,000ft² area, with continued retail provision alongside new homes and community facilities.
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Henley will retain a significant portion of retail space within the site, providing about 15 units totalling 86,000ft².
The units will accommodate a mix of independent and national retailers, as well as service providers, with current tenants offered the opportunity to return after construction.
The project will be delivered in two phases across ten buildings, according to designs by Matt Brook Architects.
The development aims to introduce up to 3,300 homes, including 660 designated as affordable housing, establishing what is reported as the largest affordable housing scheme in Salford in over 50 years.
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By GlobalDataA range of housing types and tenures are planned to support both existing and future residents.
Five acres of public open space will be incorporated into the master plan, featuring the central 3.5-acre West Union Park and a village square designed for community events.
Plans also include facilities such as children’s play areas and a community forum for residents and occupiers.
Further, parts of the local centre will remain open during construction work, enabling business continuity for retailers and service providers, stated the company.
The scheme prioritises sustainable travel through new walking and cycling routes that connect to neighbouring areas.
The project will provide 1,000 cycle parking spaces for residents and up to 600 car parking spaces, as well as links to nearby public transport.
The move focuses on efficient brownfield land use and aims to reduce reliance on greenbelt land while delivering energy-efficient homes.
During construction, over 900 temporary jobs are expected to be created.
Once operational, the retail units are projected to generate approximately 160 permanent roles.
Henley Investment Management states that the development will support both economic activity and improved amenities for Salford.
Henley Investment Management chief executive Ian Rickwood said: “Our approved scheme for Regent Park will deliver a new green and sustainable neighbourhood, a renewed local centre for Salford.
“Our plans recognise the importance of retail and services for the community, retaining significant enhanced provision that will cater to the needs of local people, while delivering much-needed high-quality homes, including a significant proportion of affordable homes, a new park, a village square and community forum.
“We look forward to continuing to work with Salford City Council, stakeholders and the local community to deliver our vision.”
