Peel L&P and Pension Insurance Corporation break ground on 500 new homes in U.K. largest urban regeneration project

Peel L&P and Pension Insurance Corporation plc (PIC) has announced the commencement of construction of Miller’s Quay, the cornerstone investment in what will become the largest regeneration project in the United Kingdom, creating up to 20,000 permanent jobs.

Miller’s Quay is a residential scheme with 500 one-and two-bedrooms, which will continue the delivery momentum at Peel L&P’s Wirral Waters, a 500-acre brownfield site and former dockland. Wirral Waters is supported by central government as a key part of its leveling-up strategy.

The £130 million (€154 million/$155 million) Miller’s Quay development has been made possible through a special partnership between highly experienced developer and regeneration business Peel L&P; Wirral Metropolitan Borough Council (WMBC); and long-term investor PIC, Peel L&P’s funding partner. Construction company Graham is the contractor for the scheme.