YHG and Capital&Centric awarded £7m in brownfield funds
9 February 2022 10:27
Comments (6)
Greater Manchester Combined Authority is set to give more than £11.3m to eight different projects in the region, including Weir Mill in Stockport and Jackson’s Brickworks in Newton Heath.
The combined authority is meeting on 11 February to formally approve the allocations, which have already been signed off by the Department of Levelling Up, Housing and Communities.
The money is not part of the £300m the GMCA is expecting to receive from the government that was mentioned in the Levelling Up White Paper.
In order to be eligible for the brownfield funds, the schemes had to meet five criteria:
- Deliver housing on brownfield sites
- Minimum BCR of 1
- Maximum £15k per home
- Viability gap preventing development
- Capital spend only
Here are the full list of projects that were allocated funding and how much they were awarded:
- £3.7m to Nuvu Development Limited and Your Housing Group for the 313-home Jackson’s Brickworks project at Ten Acres Lane in Manchester
- £3.65m to Capital&Centric and Stockport Council for 253-home Weir Mill project in Salford
- £1.26m to Trafford Council for 84-home Magistrates Courts project in Sale
- £900,000 to Manchester One for the 60-home Moston Campus project in Manchester
- £585,000 to Manchester One for the 75-home Oldham Road/Dulversion St. project in Newton Heath
- £530,000 to Southway Housing for 42-home Emmanuel Court project in Tameside
- £481,097 to Bolton at Home for the 68-home Lever Gardens scheme in Little Lever
- £270,000 to Winworth Construction and Forviva for 21-home Dudley Street project in Salford
More on GMCA’s brownfield land fund allocations:
Surely if these developments ( especially Weir Mill & Trafford Magistrates Court) could not work financially before a ‘gift’ why even start them?
Conversely, if they were financially viable prior to this, surely the money is better spent ‘levelling up’ more needy Mancunian projects?
By Level 42
In response to Level 42 – it’s about achieving wider objectives. Weir Mill, for example, might not be viable without this funding but it’s a critical lynchpin in the wider regeneration of the Stockport Town Centre West Mayoral Development Area. The success of this development will (hopefully) improve the viability of the wider regeneration area, and the wider social, economic and environmental objectives that that regeneration is designed to meet. I’d imagine it’s the same case, or similar, for each of the other schemes.
By Martin Cranmer
M Cranmer. These schemes were appraised before the ‘magic wand’ of Levelling Up. I agree with the wider principles, of course, but is ££ really needed for schemes which were commercially determined some time ago, and should, financially, be able to stand on their own two feet.
By Mark King
Crazy giving handouts to millionaire developers when a lot of old people are struggling to pay their gas bills.
Not viable just means not enough profit. Of course they are viable – look at the level of house prices.
By Anonymous
Personally I just can’t warm to this. If they’d used a similar brick to the railway arches, maybe it could have won me over.
By MrP
What the! Iconic railway arch shrouded by what looks like an RAC head quarters building on the mortorway
By cba