Investment from the Government's Regional Growth Fund towards the completion of the Middlewich eastern bypass is key to unlocking economic growth in the Cheshire East town, reports Pochin.
Pochin Developments' plans for the bypass was one of the 34 projects from businesses and local partnerships in the North West successful in the second round of bids for funding from the Government's £1.4bn three-year fund announced on Monday.
Pochin was granted £4.1m RGF support to complete the Middlewich eastern bypass, which represents almost 20% of the cost of the bypass and associated infrastructure works.
Pochin added that it will deliver the remaining 80% of funding itself with private sector support.
Brian Reay, property director at Pochin Developments, said: "We have worked closely with Middlewich Town Council, the Weaver Valley Partnership, the Cheshire and Warrington Local Enterprise Partnership and Cheshire East Council to formulate deliverable plans to stimulate economic growth. The successful RGF bid allows us to move towards delivery of over £350m of private sector funding for large scale commercial and residential schemes which will secure local jobs for the long term."
Cllr Jamie Macrae, cabinet member with responsibility for prosperity at Cheshire East Council, said: "The bypass is key to unlocking the potential of Middlewich, stimulating economic growth and creating vital and sustainable new jobs in the area.
"It is another example of how the Council is working hard with developers and stakeholders across Cheshire East to help revitalise our town centres and deliver sustainable economic regeneration for the long-term wellbeing of our communities."
Completion of the bypass, from the end of Pochin Way through to the A533 Booth Lane, a distance of just over a mile, will serve a mixture of employment, leisure and tourism development on both sides of the new road.
The bypass aims to alleviate congestion in Middlewich town centre, in particular along the A54 and Lewin Street, and improve the residential and commercial environment of the market town.
The work forms part of phase three of the Midpoint 18 business park proposals to expand the site to the south of Cledford Lane and create over 1.5m sq ft distribution, production, office and hotel facilities.
Pochin said the completion of the bypass will relieve significant local traffic congestion and allow the Midpoint 18 business park to be completed.
In August, Pochin secured extended planning consent for the third phase of its business park.
Lamonts and Matthews & Goodman are joint agents on Midpoint 18.