Galliford Try has reached financial close on the £100 million Brunswick regeneration scheme.

Financial close follows the consortium's appointment as preferred bidder.

The regeneration programme will transform the Brunswick area of East Manchester, providing 522 new homes as well as new community facilities, including an Extra Care centre and retail units. Additionally, extensive infrastructure works and remodelling will be carried out.

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Leading repairs and maintenance contractor Mears will refurbish a further 654 homes and provide ongoing facilities management services under the project.

Galliford Try Chief Executive Greg Fitzgerald stated: "We are very pleased to reach agreement with Manchester City Council, our consortium partners and other project stakeholders to secure what will be an important regeneration project for Greater Manchester. S4B is already well advanced in its planning for the project, and we look forward to formal commencement of works early in 2014."

(CD/MH)