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British Waterways signs Gloucester Quays contract
British Waterways and Manchester-based property group Peel Holdings have exchanged contracts for a joint venture to regenerate Gloucester Quays.
The agreement is the latest step in making the £400m mixed-use development at the City’s waterfront reality.
Outline planning permission was granted for the 60-acre scheme in June 2006 and the scheme create waterside cafes, restaurants, bars and new hotels as well as 1,000 new homes.
In addition to new places to live and play around Gloucester's historic docks, the planned development will also see a new factory outlet shopping centre, supermarket, offices and workshops – aiming to attract further investment into the area.
Funding for the scheme will come from Peel and British Waterways with the support of English Partnerships and South West RDA.
Lindsey Ashworth, Peel’s director, said: “The exchange of contracts makes our successful partnership with British Waterways at Gloucester Quays official.
“This is an exciting scheme with many challenges and we look forward to working with the team at British Waterways to deliver a redevelopment fitting to Gloucester Quays and the surrounding environment.”
Gloucester Quays, which incorporates large tracts of former industrial land and many heritage warehouse buildings, is adjacent to the Gloucester Docks scheme developed by Crest Nicholson and South West RDA.
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