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MediaCityUK receives £10 million funding from Santander to support development
The exciting expansion of MediaCityUK has received a further boost, after an agreement has been reached with Santander to provide £10 million of funding to support future development.
MediaCityUK is one of the foremost developments in the UK and, as the home of the BBC, ITV, Coronation Street, the University of Salford, and dock10, as well as over 250 smaller businesses, it is a major creative, digital and technology hub.
The designs for a number of further buildings were approved in September 2016, and work is underway on the first, Lightbox – a 238-unit luxury apartment scheme. Work has recently been completed on The Alchemist’s new cocktail bar and restaurant. All the work is set to be delivered by 2030, and will provide a unique opportunity for a new generation of building designs, further expanding MediaCityUK as the go-to destination for work, leisure and living.
The £10 million funding from Santander Corporate & Commercial will help advance the development of the site. Phase two will ultimately double the size of the hub, including 10 new buildings, creating over 50,000 sqm of business accommodation, 1,871 residential units including town houses, over 4,400 sqm of retail and leisure space and around 1,800 car parking spaces.
The phase two plans include The Arcade – a retail/leisure and office space around a pedestrian arcade; Georgian Square – a public courtyard, a six-storey podium on top of which will be two slender taller residential buildings of 14 and 25 storeys with terraces and winter gardens; and London Square – 14 three-storey town houses with 460 apartments on the upper floors, and gym, cinema room and shared office space.
Stephen Wild, Managing Director, MediaCityUK, said:
MediaCityUK is really coming of age – recent developments have brought a further exciting edge, and the next range of buildings will include additional prime office, residential and retail space, enabling us to create more exciting experiences for our customers, visitors and residents.
The funding provided by Santander is a huge step forward in realising the potential of these plans, and we are looking forward to progressing with their support.
Stephen Ball, Relationship Director, Santander Corporate & Commercial, said:
We’re delighted to have been able to support the next phase of MediaCityUK. The first phase added significant social and economic value to Salford, and phase two will take this to new heights.