£1.3bn regeneration of Purfleet-on-Thames' town centre promoted as a flagship project in UK Global Investment Summit
The Royal Family and UK government has named the regeneration of central Purfleet-on-Thames town one of the best investment opportunities in Britain, with the £1.3bn master-plan one of the main projects hosted at this week's Global Investment Summit.
The scheme is being delivered by PCRL, a partnership between Urban Catalyst, Swan Housing Association and Keltbray, in collaboration with Thurrock Council. In January this year, PCRL secured £75m funding from Homes England and more recently the JV appointed Knight Frank to help source up to £1bn of debt and equity. You can read more about the investment opportunity here.
Once completed, Purfleet-on-Thames will deliver a new town centre complete with shops and restaurants and a new railway station. Up to 2,850 new homes will be provided as well, alongside an Integrated Medical Centre, improved transport infrastructure and a new primary school.
The plans, approved in December 2019, also include a 1m sq. ft. ‘media village’ to support the UK’s booming TV and film industry. This will help Purfleet-on-Thames on its journey to becoming a leading creative hub, with the town already being home to High House Production Park and Royal Opera House production workshops.
Later phases will deliver a higher/further education campus creating leading facilities with a focus on health and the creative arts.
The £1.3bn regeneration is being delivered by PCRL, a partnership delivered by Ken Dytor’s Urban Catalyst and Swan Housing Association with Sir Tim Laurence as non-executive chair. Together, they are creating a vibrant new riverside community in Purfleet-on-Thames.
The new and existing facilities at Purfleet-on-Thames form a key part of Thames Estuary Growth Board’s Production Corridor including the Creative Estuary strategy, which seeks to elevate the Thames Estuary region to become one of the world’s leading cultural powerhouses.
Urban Catalyst, led by Ken Dytor, specialises in social infrastructure and complex mixed-use urban regeneration projects with a focus on sustainable solutions. They are currently developing a pipeline of projects throughout the UK and Europe.
Minister for Investment Gerry Grimstone said: "Purfleet-on-Thames’ £1.3bn regeneration is a testament to the UK's enduring strength as a global hub for investment, built on our competitive economy and cutting-edge innovation.
“The Global Investment Summit will demonstrate how we can use inward investment to propel our economy towards a more prosperous, exciting future.”
Cllr Mark Coxshall, Cabinet Member for Regeneration, Strategic Planning and External Relationships, said: “The government’s continued support is recognition of our borough’s key role within the national economy. Thurrock has always been a hotbed for innovation and these plans will transform Purfleet-on-Thames and will significantly contribute to the borough’s wider economic growth ambitions, making Thurrock a healthier and more attractive place to live, work, learn and play. Thurrock is open for business."