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Dan Whelan
Warrington Council is to approve the relocation of the town’s bus depot, which would then free up land around Wilderspool Causeway for the creation of up to 1,300 homes.
Plans for a new-build bus station on Dallam Lane, proposed by Wire Regeneration – a joint venture between Warrington Council and developer Langtree – were approved in 2019.
As well as more than 1,000 homes, Wire Regeneration’s vision for the Southern Gateway of Warrington includes a commercial area fronting the south side of Bridgefoot and the River Mersey, enhanced public spaces, and a hotel.
Approval by the council’s cabinet is the next step required to progress the redevelopment of the Southern Gateway area.
Sarah Townsend
Investor PGIM Real Estate has acquired a 25% stake in the developer of Sci-Tech Daresbury and the regeneration of Parkside Colliery on behalf of one of its funds.
Warrington-based Langtree already manages around £400m of assets on PGIM Real Estate’s behalf and the investment will help to spur Langtree’s growth and provide it with “the financial resources to boost its activities”, the parties said in a statement.
US-based PGIM Real Estate is the property investment business of PGIM, the $1.4trn global investment management arm of New York Stock Exchange-listed Prudential Financial. PGIM Real Estate itself is one of the largest property investors in the world with $182.5bn of gross assets under management. The value of the Langtree deal was not disclosed.