Cibitas wins approval for largest regeneration scheme in UK

Specialist regeneration developer Cibitas Investments has received the green light for a £1 bn (EUR 1.3 bn) urban quarter close to Manchester city centre. As well as being the largest regeneration project in the UK, the 38 hectare, Holt Town Waterfront development is the largest planning application ever to be approved in Manchester.

Construction work is expected to start shortly with the first sites due to be released on the market in early 2008. The scheme will be delivered in partnership with inward investment agency New East Manchester and Manchester City Council.

Situated less than a mile from the city centre, adjacent to the flagship Sportcity development, which was built for the 2002 Commonwealth games, the new urban quarter will provide more than 4,300 new homes over the next 10-15 years. As well as a range of innovative housing, the plans for Holt Town include a new primary school, new Metrolink stop, village squares, a river valley park, and a range of shops, studios, bars and restaurants.

'We are absolutely delighted with the City Council's decision. We have worked hard as a team with colleagues at New East Manchester to develop a commercially viable scheme that will bring something new and exciting to Manchester and the UK', said David Shelton, managing director at Cibitas.

Cibitas Investments is an amalgam of ING Real Estate, Stanhope, a joint venture between Waystone and CP Holdings and various private investors. Cibitas was assisted in the preparation of the planning application by GVA Grimley, EDAW, Arup, Berwin Leighton Paisner, Eversheds and Cre8 Management.