Council Leader’s delight over news of Lumina Village funding
28/2/24
Trafford Council Leader Cllr Tom Ross has expressed his delight following news earlier this year of funding for Lumina Village, a site close to the iconic Old Trafford cricket ground.
Property developer and investor Glenbrook announced two major funding agreements totalling £170m, which will see the delivery of a major new housing scheme at Lumina Village in Old Trafford.
Investment management firm Moorfield will fund the Build to Rent element of the scheme, which will deliver 440 apartments and townhouses and have a gross development value (GDV) of £120m. The scheme, designed by Sheppard Robson, secured planning permission last year.
Clarion Housing Group has committed £49.1m to deliver 199 affordable homes, offering a mixture of shared ownership and social rent options across a range of apartment types and townhouses.
Delivery has already started with Domis Construction appointed to build the Build to Rent scheme and a large proportion of the public realm, with Caddick Construction delivering 199 homes and associated public spaces.
"Trafford Council is totally committed to the building of more new and affordable homes throughout the borough to help tackle the current housing crisis. The creation of Lumina Village is fabulous news for Trafford in term of new homes and job creation possibilities. This will be a fantastic new neighbourhood in a superb area of Trafford."
Cllr Tom Ross, Leader, Trafford Council
Homes England has supported the delivery of 103 of the affordable homes through a grant from its Affordable Homes Programme. Alongside this, the Greater Manchester Combined Authority (GMCA) has supported the delivery of the whole scheme through a grant from its Brownfield Land devolution scheme.
Forming a large part of the wider Lumina Village development, the residential scheme is a joint venture partnership between Trafford Council and family-owned property company Bruntwood. After acquiring the site in 2019, the joint venture repurposed Valo, the former Kellogg's HQ office building, for educational uses and it is now fully leased to UA92, Shockout and Microsoft.
This new residential development of 650,000 sq ft will see the creation of 639 homes in a single phase of construction over the next 32 months. This will include 5.4 acres of public realm around a central village green, civic squares, boulevards, play streets, and ground floor retail units facing Old Trafford Cricket Ground.
The scheme will be pedestrian friendly with all parking contained within a two-storey residents car park on the site. This sustainable approach to place shaping will benefit existing Trafford residents as well as the new Lumina Village community.
"Our joint venture with Trafford Council is helping to shape Trafford's continued aspiration to create a vibrant and sustainably focused borough. We're excited to see Lumina Village reach another key milestone, which brings us a step closer to creating a variety of high-quality, people centric homes and spaces for Trafford's residents to come together and thrive."
Chris Roberts, Chief Development Officer, Bruntwood
Source: btrnews.co.uk