Celebrations have taken place at Wirral Waters today (18 July) to mark the practical completion of the first 150 apartments at Peel Waters’ Millers Quay development.

The £130 million residential scheme of 500 new homes across six buildings is the single biggest development to date at Wirral Waters, the largest regeneration project of its kind in the UK.

Following completion, residents will shortly move into the one and two-bedroom apartments within phase one, which includes blocks ‘Copper Mill’ and ‘Steam Yard’. Phase two, the final 350 new homes, within blocks ‘Soda Factory’, ‘Salt House’, ‘Glaze Works’ and ‘Lime Studio’, are expected to complete early in 2025.

Representatives gathered today from Peel Waters, its funding partner, Pension Insurance Corporation plc (“PIC”), construction firm GRAHAM, Homes England, Wirral Council, and staff and students from Wirral Met College, who have all been instrumental in the delivery of Millers Quay, to celebrate the practical completion of Millers Quay phase one.

Designed in collaboration with architects Howells, Millers Quay draws inspiration from the vibrant colours, metalwork, and warehouses that defined the area’s 19th Century industrial heritage.

The waterfront apartments also offer expansive views, south-facing shared spaces, dockside walkways, and access to new green spaces and micro parks.

Richard Mawdsley, development director at Wirral Waters, says: “We are very proud to mark this special moment in Wirral Waters’ history with the practical completion of the first phase of this mammoth project.

“Millers Quay is the result of incredible partnership working between Peel Waters, PIC, GRAHAM, Homes England, Wirral Council and Wirral Met College, each bringing something very important to the project.

“The impact that this development has had on local construction students and the local community over the last couple of years is truly inspiring and the innovation and skills learnt around green methods of construction will benefit many future generations too. This great work continues as we look forward to completing phase two early next year.”

James Agar, head of long income at PIC, adds: “Millers Quay exemplifies the ideal partnership of a long-term investor, a highly experienced developer, and a forward-thinking local authority working together to generate a development of considerable social value.

“As an example, over the course of construction the average monthly spend on local labour has exceeded £1 million per month with 41% of the costs of construction placed with businesses located within a 50-mile radius of Wirral Waters. The benefits of cutting the distance goods and contractors need to travel has helped to reducing energy consumption, particularly of fossil fuels.

“This Build to Rent development has been funded through a long-term, regeneration lease structure, which operates like a fully amortising loan, providing funding for Wirral Council, which would not have been available from traditional sources. Wirral Council will now lease the buildings for 50 years, with annual rent increases linked to inflation, after which ownership of the building will pass to Wirral Council.”

Peter Reavey, regional director at GRAHAM, adds: “Millers Quay exemplifies our commitment to delivering high-quality, sustainable homes that positively impact the local community.

“We are particularly proud of the unique learning and employment opportunities this project has provided to local construction students, fostering the next generation of skilled professionals.

“Additionally, the development has supported local businesses and created jobs, demonstrating the positive social impact we aim to achieve through our projects.”

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