£5bn Northern Powerhouse investments showcased to Chinese investors
The government is looking to attract £5bn of Chinese investment into the 13 projects in the Northern Powerhouse ahead of a visit by China vice premier Ma Kai.
The projects, which range from Peel and Legal & General’s 5m sq ft Salford regeneration project at MediaCityUK to working with Liverpool City Council on delivering 1,000 new homes, will be presented to the Chinese delegation today.
They are being launched as part of the eighth UK-China economic and financial dialogue, which will involve a series of events over two days.
The government is looking to attract £5bn of Chinese investment into the 13 projects in the Northern Powerhouse ahead of a visit by China vice premier Ma Kai.
The projects, which range from Peel and Legal & General’s 5m sq ft Salford regeneration project at MediaCityUK to working with Liverpool City Council on delivering 1,000 new homes, will be presented to the Chinese delegation today.
They are being launched as part of the eighth UK-China economic and financial dialogue, which will involve a series of events over two days.
The delegation will also have meetings with prime minister Theresa May and Bank of England governor Mark Carney.
Chancellor Philip Hammond said: “This portfolio, opening up billions of pounds of investment ready projects to Chinese investors, will support our work to grow and create jobs across the North, as well as underpin our ambitions to bring world-class infrastructure to every corner of Britain.”
The full list of projects are:
MediaCityUK, Salford, Greater Manchester: Peel Land & Property and Legal & General’s 5m sq ft regeneration project where occupiers include the BBC. A £1bn expansion was recently approved to provide a further 2.3m sq ft of space.
AeroCentre, Doncaster: The next phase of a development to create new offices, logistic units and aviation hangars for Sheffield Airport.
Pall Mall, Liverpool: Investment in a mixed-use regeneration project delivering 1,000 new homes and 400,000 sq ft of office space alongside retail, leisure and community facilities.
Protos – Ellesmere Port, Cheshire: An energy project with investment opportunities in gas-fired power generation, energy generation, industrial development, and rail and berth infrastructure, generating over 3,000 new jobs.
Stockport Exchange, Stockport: Muse Development plans to deliver a 50,000 sq ft speculative office building and hotel that will operate under the Holiday Inn Express brand.
Kampus, Manchester: Henry Boot Developments and Capital & Centric’s £200m mixed-use scheme in Manchester city centre
Future Carrington, Trafford: HIMOR’s major regeneration project that could deliver up to 8m sq ft of commercial space and 7,000 homes.
Liverpool Waters, Liverpool: A land sale that will form part of Peel Holdings’ £5bn project to transform the city’s northern docks.
Kirkstall Forge, Leeds: An opportunity to invest CEG’s new neighbourhood project that will comprise 1,050 new homes, 300,000 sq ft of offices and 100,000 sq ft of retail, leisure and community space.
Sirus Minerals, Polyhalite Project, Whitby, North Yorkshire: Investment in the first potash mine to be built in the UK for over 40 years, directly creating more than 1,000 new jobs.
Unity, Doncaster: A major regeneration and infrastructure project that will create 3,100 new homes, a transport interchange, school, and community uses. The investment opportunity also includes commercial space for manufacturing uses, 6,000 new jobs, a new power station and a materials recycling facility.
Vaux, Sunderland: Investment in a regeneration scheme providing offices, leisure, a hotel, residential and retail space.
Advance Manufacturing Innovation District, Sheffield: Investment in a 2,000-acre centre of excellence for advanced manufacturing in metals and materials alongside over 4,000 new homes.
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