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Scarborough Appoints BCEG For £700 Million Middlewood Locks Development

Scarborough Appoints BCEG For £700 Million Middlewood Locks Development

26/10/2015

The McCabe family's Scarborough Group International, the UK and international real estate investor and developer, today announces that it has selected Beijing Construction and Engineering Group (BCEGI), the Chinese construction and engineering firm, as their preferred contractor for its 24-acre Middlewood Locks development, a new residential and commercial neighbourhood located at the western gateway to Manchester's Central Business District.

 

BCEGI has been working with Scarborough on the design for the detailed planning application for the first phases of the development. These first phases will comprise the development of circa 550 homes, 29,000 sq ft of commercial space and extensive new public realm, in the form of canal side footpaths and cycle ways that will connect directly into the city centre. The application was submitted earlier this month with a planning decision expected in before the end of the year. This would then enable Scarborough to start on site in the first quarter of 2016.

 

BCEGI first entered the UK market through an investment in Airport City, Manchester, announced in October 2013. The company has been actively pursuing further investment opportunities in the UK and in August 2015, announced its most recent investment in St Michael’s, Manchester.

 

Middlewood Locks received outline planning consent in March 2015 from Salford City Council to deliver a new mixed use community of around 2,000 new homes and up to 750,000 sq ft of commercial development space for mixed commercial uses including offices, hotel, shops, delis, restaurants, a convenience store and gym. The development is centred on three large basins of the Manchester Bolton and Bury Canal in Salford and is ideally located just a short walk from the central business district and retail amenities of Manchester.

 

The first phase of this development will comprise the development of circa 550 homes, 29,000 sq ft of commercial space and extensive new public realm, in the form of canal side footpaths and cycle ways that will connect directly into the city centre. The reserved matters planning application has now been submitted for the first phase with a planning decision expected in before the end of the year. This would then enable SGI to start on site in the first quarter of 2016.

 

The site has a gross development value exceeding £700 million and is expected to create more than 7000 jobs for the local region. The scheme is being developed by FairBriar International, a joint venture between Scarborough, Top Spring International Holdings Limited, a Hong Kong-listed real estate developer in the People's Republic of China, and Metro Holdings Limited, a Singapore-listed property development and investment group.

 

Lee Savage, Development Director of Scarborough, said: "Middlewood Locks is a unique site with the potential to deliver thousands of new homes, jobs and a first-class business destination. The selection of BCEGI means that we are on track to deliver the first phases of the development and we are confident that this scheme will be transformational for Salford and its wider regeneration activities."

 

Mr Xing Yan, BCEG International Co. Ltd Managing Director, said: “We are delighted to be selected as preferred contractor for Middlewood Locks and have very much enjoyed working alongside the Scarborough team. We are now looking forward to delivering the first phases of development of this significant and strategic regeneration project.”

 

Salford City Mayor Ian Stewart, said: "This is another exciting development for Salford.

 

"Salford is growing at an incredible pace and the international investment demonstrates this. We have worked closely together with developers like The Scarborough Group to create new jobs, homes and commercial opportunities and a bring large pieces of unused land back to life."

 

For further information:

Kirsty Allan

Tavistock

Kirsty.allan@tavistock.co.uk

020 7920 3150

 

Notes to Editors:

Scarborough Group International

Scarborough Group International (SGI) holds substantial real estate interests throughout the UK and internationally with subsidiary, associated or connected companies in the Far East, China and Australia. The Group’s global reach also includes interests in North America, Europe and India through other organisations owned by the McCabe family. SGI’s roots stretch back to the mid-1970s with the first Scarborough branded corporate created in 1980. SGI owns Sheffield United Limited and with it co-owns Sheffield United FC.

 

SGI started to diversify into Asia in 2003. After the listing of its key investments in Top Spring International Holdings and Rainbow Department Stores in Hong Kong and China respectively, the Group began to grow its retail and consumer business in China, capturing the opportunities generated by the nation’s 12th Five Year Plan. ScarVic Retail Management was formed as a joint venture with AVIC Shenzhen Trading in 2011 bringing famous international branded retailers to China, the first of which is Grupo Cortefiel.

www.scarboroughgroup.com

 

FairBriar International

Scarborough has rebranded its Residential division under the banner of FairBriar Group, a corporate name emanating from a formerly well-established and respected south-east housebuilder which in recent past years saw Scarborough Group with a controlling interest. Top Spring and Metro now each own 25% of the FairBriar joint venture with Scarborough holding the 50% balance.

 

Beijing Construction and Engineering Group (BCEGI)

BCEGI is a Chinese construction and engineering firm that has built significant buildings and infrastructure in Beijing as well as overseas. This has been delivered through international branches, in particular, an active subsidiary in the United States, -USA. Ranked in 2012, with revenues of $5.5 billion USD, it is the 44th largest construction and engineering company in the world by revenue.

The McCabe family's Scarborough Group International, the UK and international real estate investor and developer, today announces that it has selected Beijing Construction and Engineering Group (BCEGI), the Chinese construction and engineering firm, as their preferred contractor for its 24-acre Middlewood Locks development, a new residential and commercial neighbourhood located at the western gateway to Manchester's Central Business District.

 

BCEGI has been working with Scarborough on the design for the detailed planning application for the first phases of the development. These first phases will comprise the development of circa 550 homes, 29,000 sq ft of commercial space and extensive new public realm, in the form of canal side footpaths and cycle ways that will connect directly into the city centre. The application was submitted earlier this month with a planning decision expected in before the end of the year. This would then enable Scarborough to start on site in the first quarter of 2016.

 

BCEGI first entered the UK market through an investment in Airport City, Manchester, announced in October 2013. The company has been actively pursuing further investment opportunities in the UK and in August 2015, announced its most recent investment in St Michael’s, Manchester.

 

Middlewood Locks received outline planning consent in March 2015 from Salford City Council to deliver a new mixed use community of around 2,000 new homes and up to 750,000 sq ft of commercial development space for mixed commercial uses including offices, hotel, shops, delis, restaurants, a convenience store and gym. The development is centred on three large basins of the Manchester Bolton and Bury Canal in Salford and is ideally located just a short walk from the central business district and retail amenities of Manchester.

 

The first phase of this development will comprise the development of circa 550 homes, 29,000 sq ft of commercial space and extensive new public realm, in the form of canal side footpaths and cycle ways that will connect directly into the city centre. The reserved matters planning application has now been submitted for the first phase with a planning decision expected in before the end of the year. This would then enable SGI to start on site in the first quarter of 2016.

 

The site has a gross development value exceeding £700 million and is expected to create more than 7000 jobs for the local region. The scheme is being developed by FairBriar International, a joint venture between Scarborough, Top Spring International Holdings Limited, a Hong Kong-listed real estate developer in the People's Republic of China, and Metro Holdings Limited, a Singapore-listed property development and investment group.

 

Lee Savage, Development Director of Scarborough, said: "Middlewood Locks is a unique site with the potential to deliver thousands of new homes, jobs and a first-class business destination. The selection of BCEGI means that we are on track to deliver the first phases of the development and we are confident that this scheme will be transformational for Salford and its wider regeneration activities."

 

Mr Xing Yan, BCEG International Co. Ltd Managing Director, said: “We are delighted to be selected as preferred contractor for Middlewood Locks and have very much enjoyed working alongside the Scarborough team. We are now looking forward to delivering the first phases of development of this significant and strategic regeneration project.”

 

Salford City Mayor Ian Stewart, said: "This is another exciting development for Salford.

 

"Salford is growing at an incredible pace and the international investment demonstrates this. We have worked closely together with developers like The Scarborough Group to create new jobs, homes and commercial opportunities and a bring large pieces of unused land back to life."