The Peel Group has reaffirmed its ambitious plans for the Ocean Gateway over the next decade with key projects and collaboration delivering substantial economic benefits to the Northern Powerhouse during 2020. Underlying the Ocean Gateway is a vision for innovation and ideas, coupling land and natural assets with the initiatives of many partners.
Ocean Gateway is a pioneering approach to the renaissance of the 40-mile strategic corridor encompassing Manchester and Liverpool, with a focus on placemaking and regeneration. The £50 billion investment strategy launched in 2008, features MediaCityUK; TraffordCity; Liverpool Waters; Liverpool2; Wirral Waters; Protos in Cheshire; Port Salford and Liverpool John Lennon Airport.
For the Ocean Gateway and other strategic projects within the Northern Powerhouse to succeed in raising regional and overall UK Productivity, Peel believes a rebalancing framework is necessary to be driven by an explicit Government commitment that recognises the opportunities and challenges presented by disparities across the UK:
* 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
* Promotion and incentivisation of private sector investment, particularly in left-behind areas
* Place-based marketing leading to the attraction and retention of talented people and dynamic organisations
* 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’s investment approach will support the shared aim of rebalancing the UK 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 UK’s fifth national garden is scheduled to open later this year on the site of the historic Worsley New Hall and Gardens www.peellandp.co.uk/rhs-bridgewater/
* 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 www.liverpoolwaters.co.uk
* A unique state-of-the-art wellbeing resort and a new EventCity, as part of Peel L&P’s continued development of TraffordCity www.traffordcity.co.uk
* Further economic growth, new homes and community facilities at MediaCityUK, with plans already approved to double the size of the digital and creative hub by 2030 www.mediacityuk.co.uk
* 5,000 homes delivered in the next three years at Manchester Waters, Trafford Waters, Liverpool Waters and Wirral Waters www.peelstrategicwaters.co.uk
* 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 www.northstone.co.uk
* 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 www.thisisprotos.com
* Long-term sustainability commitments to net zero carbon buildings, zero waste to landfill and a 15% reduction in energy use www.peellandp.co.uk/responsibility/
* Further growth at the Port of Liverpool having witnessed greater investment at Liverpool2 www.peelports.com
* Liverpool John Lennon Airport targeting six million passengers by 2024, building on its Faster Easier Friendlier customer focus www.liverpoolairport.com
* 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 www.hultonpark.co.uk
An independent review by AMION Consulting revealed that the first 10 years of Ocean Gateway had delivered more than £5 billion of private investment, creating 21,000 jobs, 2,700 student places and 5,000 new homes.
According to the AMION report, such an impact will continue over the coming decade, potentially equating to almost 3% of total GVA across the wider Ocean Gateway area.
Peter Nears, Peel Group’s Strategic Planning Director, added: “With the right market conditions and support from local and national Government policies, together with close partnerships, we could see a further £10 billion of capital investment in the Ocean Gateway over the next 10 years.”
Full details of all Ocean Gateway projects can be found here – www.oceangateway.co.uk
Insight, opinions and updates around the latest research, policies and strategies which underpin our investment approach.
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