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United Kingdom Industry News

27/01/2011

Equity Says Cheers To New Brewery Development

Work has started this week to redevelop a former Stockport brewery into a new 6 million affordable housing development.

Equity Housing Group and its contractor, North West building company Southdale, is building 51 new homes on the disused Royal Oak Brewery site close to the town centre. It follows a 2.4 million investment from the Homes and Communities Agency (HCA).

Apartments will be available for rent and for sale, through shared ownership, with the aim of providing a choice of affordable living for local people. The first residents are expected to move in around February 2012.

The main brewery building is being retained and converted internally and new buildings will be also added to form a u-shaped development. Some of the apartments will have their own garden space while a large private landscaped area will be shared by the other residents. There will be spaces for cars and ample bicycle storage space.

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David Fisher, Chief Executive of Equity Housing Group, said: "We are delighted to be commencing work on this landmark scheme for Equity Housing Group, which is one of the biggest projects we have undertaken in our recent history.

"The difficult economic and financial conditions mean the number of planning applications overall is falling and this means reduced availability of good quality, affordable new homes for shared ownership.

"Not only are we transforming an historic site and retaining many original features, we are also offering people struggling to get that all important first foot on the property ladder various opportunities to realise their ambitions of becoming home owners.

"Equity has been working with Stockport Council and the Homes and Communities Agency for several years to find ways to bring this scheme to market. The appointment of our contractors Southdale and work subsequently starting on site marks the beginning of something very exciting."

(CD)
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Equity Says Cheers To New Brewery Development - Work has started this week to redevelop a former Stockport brewery into a new 6 million affordable housing development.