Peel Group’s ambition to regenerate parts of Manchester and Liverpool as part of its Ocean Gateway scheme could be boosted by a further £10bn of capital investment over the next decade, say bosses.
Ocean Gateway is the long-term plan by of investment along the Manchester Ship Canal connecting Manchester with the Port of Liverpool.
Strongly embedded within the Northern Powerhouse, Ocean Gateway is a shared ambition aimed at the re-balancing of the 海角视频 economy with a focus on placemaking and regeneration.
The £50bn investment strategy launched in 2008, features MediaCity海角视频; TraffordCity; Liverpool Waters; Liverpool2; Wirral Waters; Protos in Cheshire; Port Salford and Liverpool John Lennon Airport.
According to an independent review by AMION Consulting of the first 10 years of Ocean Gateway, the scheme has already delivered more than £5bn of private investment, creating 21,000 jobs, 2,700 student places and 5,000 new homes.
The review said such am impact will continue over the coming decade, potentially equating to almost 3 per cent of total GVA across the wider Ocean Gateway area.
Peter Nears, Peel Group’s strategic planning director, said: “With the right market conditions and support from local and national Government policies, together with close partnerships, we could see a further £10bn of capital investment in the Ocean Gateway over the next 10 years.”
Reaffirming its ambitious plans for the Ocean Gateway, Peel said a rebalancing framework is necessary to be driven by an explicit government commitment ‘that recognises the opportunities and challenges presented by disparities across the 海角视频.’
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This includes ambitious planning and economic spatial policies, including long-term masterplanning, realigned and reinvigorated support for the delivery of sustainable development, a new approach to public funding that tackles underinvestment in skills and infrastructure, and promotion and incentivisation of private sector investment, particularly in left-behind areas.
It said there was also a need for place-based marketing leading to the attraction and retention of talented people and dynamic organisations and an enhancement of the key national role the Ocean Gateway already plays in international trade.
With a new government in place and a renewed emphasis on collaboration and partnership, Peel said this investment approach will support the shared aim of rebalancing the 海角视频 economy.
Neil Lees, deputy chairman of The Peel Group, said: “The national rebalancing challenge will only be solved by an integrated approach and a sustained shift in mindset, coupled with a concerted effort across many different government bodies and policy areas.
“Ocean Gateway can play a key role in addressing regional imbalances.”
Projects marked out for further progress from 2020-2025, all supported by partnerships with both the private and public sectors, include:
- RHS Garden Bridgewater – the 海角视频’s fifth national garden is scheduled to open later this year on the site of the historic Worsley New Hall and Gardens
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- A new cruise liner terminal, a new Isle of Man ferry terminal and a new stadium for Everton Football Club, as part of Liverpool Waters
- A state-of-the-art wellbeing resort and a new EventCity, as part of Peel L&P’s continued development of TraffordCity
- Further economic growth, new homes and community facilities at MediaCity海角视频, with plans already approved to double the size of the digital and creative hub by 2030
- 5,000 homes delivered in the next three years at Manchester Waters, Trafford Waters, Liverpool Waters and Wirral Waters
- Delivery of much-needed family and affordable homes, including directly through Peel L&P’s new housebuilding arm Northstone, alongside partnerships with other builders and housing providers
- Protos and the Cheshire Energy Hub are at the heart of Peel’s commitment to investment in sustainable resources, complemented by investment in the first phase of a district heating network at Liverpool Waters
- Long-term sustainability commitments to net zero carbon buildings, zero waste to landfill and a 15% reduction in energy use
- Further growth at the Port of Liverpool having witnessed greater investment at Liverpool2
- Liverpool John Lennon Airport targeting six million passengers by 2024, building on its Faster Easier Friendlier customer focus
- 2020 will see the outcome of the public inquiry into a scheme to restore and reinvigorate the historic Hulton Park in Bolton, through the creation of an iconic new international sporting venue and mixed-use community