UK developer Peel Land and Property (Peel L&P) has contracted Urban Splash to erect 347 factory-built, modular homes on a major regeneration scheme in Birkenhead, across the Mersey River from Liverpool.
Contracts have been exchanged on the £55m development, which will be the first collaboration between Peel and Urban Splash, a developer and modular manufacturer, the companies announced yesterday.Â
Legal advisers on the deal were Eversheds and Hill Dickinson.
The homes will be added to the waterside residential quarter at Wirral Waters, which Peel said was the UK’s largest regeneration project by consented floorspace.
Each home will be customised by purchasers before being created offsite in the Urban Splash modular factory and then delivered to site.
Richard Mawdsley, director of development at Peel L&P, said: "Our new joint venture with Urban Splash is fantastic news for our local community bringing the very latest in housing design and innovation to the site.
"This development, which follows hot on the heels of our announcement last month about a £90m residential scheme comprising of 500 high-quality homes along Northbank, will transform the site into an internationally recognised destination with a residential quarter that will take the pressure off local greenbelts and help to tackle the current UK housing crisis."
The firms are, however, waiting for "the final piece of the jigsaw", they said, meaning a Housing Infrastructure Fund grant from Homes England.
Jonathan Falkingham MBE, founder and creative director at Urban Splash said: "This is another part of our ambitious plan to expand our modular housing business and follows our acquisition of the House factory earlier this year."
Image: Urban Splash founder Jonathan Falkingham, left, and Peel L&P’s Richard Mawdesley shake on the deal (Wirralwaters.co.uk)