Henley Investment Management Proposes Transformative Redevelopment of Regent Retail Park.
Henley Investment Management has announced plans to redevelop Regent Retail Park, located on the boundary of Salford and Manchester, into a vibrant, mixed-use neighbourhood. The outline planning application, submitted to Salford City Council, envisions a dynamic community space combining retail, residential, and recreational areas.
The proposed redevelopment covers a 130,000-square-foot site, designated as a Local Centre under Salford City Council’s planning policy. This designation ensures that a significant portion of retail space will be maintained. Designed in collaboration with Matt Brook Architects, the project aims to enhance the area with 3,300 homes, retail spaces, community facilities, and ample public open space.
Key Features of the Regent Park Development
- Residential Units: The project includes 3,300 homes, featuring a mix of types and tenures, including affordable housing.
- Retail and Community Space: The redevelopment plan incorporates 86,000 square feet of retail space and 10,000 square feet for community use.
- Public Open Space: Five acres of public open space are planned, including West Union Park, a 3.5-acre park, a children’s play area, and a village square.
Architectural Vision
The masterplan by Matt Brook Architects features buildings ranging from 8 to 78 storeys, with the tallest block reaching 241.5 meters, set to be the UK’s tallest building outside London. The development aims to create a recognisable skyline that aids wayfinding and establishes a new marker for Salford.
At the heart of this project is a commitment to sustainability and community. The buildings are designed to minimize their environmental impact, with a focus on reducing embodied carbon. The design also maximizes natural light penetration and provides a sustainable level of density that promotes liveability and well-being.
Community and Environmental Impact
Henley Investment Management has prioritised extensive public consultation throughout the planning process.
Ian Rickwood, Chief Executive of Henley Investment Management, said:
”Our vision is to create a new green and sustainable neighbourhood for Salford, one that meets the needs of future generations. Regent Park will deliver a new local centre for the area, with retail, community, and green space at the heart of the plans. Our proposals will bring forward more and enhanced retail space, a new park, and village square, along with much-needed high-quality homes.
We’ve undertaken extensive public consultation with the local community, stakeholders and the council and we look forward to continuing to work together.
The redevelopment will also include sustainable drainage systems, extensive naturalistic planting, and the addition of over 150 new trees, significantly boosting local biodiversity.
Project Timeline
Henley Investment Management acquired the site from M&G for approximately £16 million in 2020. The first phase of the project aims for vacant possession by 2026. The redevelopment project involves a robust team of consultants and partners.
Henley’s proposal for Regent Retail Park represents a transformative vision for Salford, aiming to create a sustainable, vibrant, and inclusive community. With its blend of residential, retail, and public spaces, the project is set to redefine the local landscape and serve as a benchmark for future urban redevelopment projects.
23rd July 2024
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