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PIC’s £130 million investment in a new waterfront neighbourhood, Wirral Waters One ('WWO'), is the anchor project of Peel L&P’s Wirral Waters, the UK’s largest urban regeneration project and a key part of the levelling up agenda. The Wirral Waters scheme is a central Government supported project to redevelop a brownfield site into a new waterfront neighbourhood, creating up to 20,000 permanent jobs, as part of the regeneration of Wirral, which sits within the Liverpool City Region.
Working in close partnership with regeneration specialist Peel L&P and Wirral Metropolitan Borough Council ('WMBC'), PIC is the sole investor for the development of a Build-to-Rent scheme, comprising 500 one- and two-bedroom apartments, with an affordable housing component of 100 homes. Rents on the affordable units will be a maximum of 80% of open market value, delivering significant social impact. The deal closed in January 2022.
"The council has worked closely with both Peel L&P and PIC to bring forward this project, which will be delivering jobs and affordable housing for people in Wirral. It is also another key moment in the continuing wider regeneration in the borough, tying in with the work well underway in Birkenhead to drive forward the town’s renaissance and showing the increasing confidence of investors in the plans for Wirral’s future."
Councillor Tony Jones
Chair of Wirral Council’s Economy, Regeneration & Development Committee
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