Peel L&P and Urban Splash have exchanged contracts for their £55m housing venture at Wirral Waters, bringing Splash’s modular homes concept to Merseyside for the first time.
The venture was first trailed in March last year, but both parties have now signed a contract to allow the project to go ahead. Worth around £55m, this will see 347 homes built at the site.
Urban Splash will bring four different products to Wirral Waters – House, Mansion House, Villa, and Fab House. Each of these has the potential to be customised by purchasers before being created in a factory and delivered to site.
The company has already delivered its modular concept at sites in Birmingham, Salford, Manchester, and North Shields, and is currently planning its fifth site in Manchester’s New Islington this year. Other sites in the pipeline include Milton Keynes and Walsall.
While the deal between Urban Splash and Peel has been formally signed, Richard Mawdsley, director of development at Peel L&P, said a start on site was dependent on securing Housing Infrastructure Fund money from the Government. This is understood to be around £6m.
“This development, which follows hot on the heels of our announcement last month about a £90m residential scheme comprising of 500 high-quality homes along Northbank, will transform the site into an internationally recognised destination with a residential quarter that will take the pressure off local greenbelts and help to tackle the current UK housing crisis,” he said.
“We’re now just waiting on the final piece of the jigsaw, securing a Housing Infrastructure Fund grant from Homes England. Only then can we finally get the first wave of housing underway at Wirral Waters.”
The deal is the second housing scheme to move forward at the site following the approval of Wirral Waters One in December last year; this features 500 homes and is worth around £90m.
Peel, which is bringing forward the project alongside the council and fellow developer Legacy, previously set an August 2019 start date for the scheme, but last month warned there was “still work to do” before construction could begin.
Jonathan Falkingham, founder and creative director at Urban Splash, added: “This is another part of our ambitious plan to expand our modular housing business and follows our acquisition of the House factory earlier this year.
“We are keen to create well-designed, urban family homes in more cities across the country. Merseyside, which was the birthplace of Urban Splash 25 years ago, seems the perfect place to move forward.
“We are delighted to be working with Peel L&P and to be involved in the creation of yet another significant, large-scale community and to continue developing and investing in Merseyside.”
Cllr Phil Davies, leader of Wirral Council, said: “Almost every week we are seeing new developments come forward – new homes, retail and commercial schemes are being planned in every corner of our borough. These developments are concrete proof of the huge confidence in Wirral and the Liverpool City Region as a place to invest and do business.
“This latest news from Wirral Waters, coming so soon after the recent announcements of new residential, care and office developments on the site, is further proof of Wirral’s growing importance in the Northern Powerhouse.
“Combined with our own plans for development through Wirral Growth Company, it is clear that it is an exciting time for Wirral.”