Thursday, October 6, 2022

Multi-million investment in Purfleet announced

THE exciting plans for Purfleet Centre have moved another step closer, it was announced at Wednesday (25 March) evening’s meeting of the council.

Making his portfolio report, regeneration cabinet member Cllr Richard Speight told members the council’s development partner Purfleet Centre Regeneration Limited (PCRL) had chosen its funding partner.

He said: “I am delighted to announce the council’s development partner, PCRL, has just selected its preferred funding partner for the first phase of the Purfleet Centre proposals.

“Commercial confidence precludes us from naming the funders at this stage, but I can confirm they are a major player within the regeneration sector who – together with their investment of £25 million – will bring significant experience in supporting the development of dynamic and sustainable communities.”

He added: “Our collective aim now is to conclude the due diligence processes and refine the various agreements required over the coming weeks to formally secure the funding and move on into the delivery phase of the project.”

Cllr Speight’s report had explained the “past year has seen all efforts focussed on securing the funding necessary to deliver the scheme which features around 2,500 new homes and a 600,000 ft film and television studio complex set around a new town centre providing a range of local facilities including a supermarket, primary school, health centre and leisure facilities.”

The report explained how “the council’s strong partnership relationship with PCRL is increasingly bearing fruit with the scheme having secured an allocation of £20 million in loan finance from the Housing and Communities Agency’s Large Sites Infrastructure Fund (currently going through due diligence) and a further £5 million in grant funding through the recently announced second round of the Local Growth Fund.”

The report also detailed what is happening in the rest of Purfleet with the council’s continued support of “High House Production Park’s development with the Royal Opera House’s Costume Store and Archive expected to open imminently and discussion already underway on further new builds including accommodation to support The Backstage Centre’s recent designation as one of only seven sector specific National Colleges.”

It stated: “The building skills offer through HHPP has seen the cultural entitlement programme rolled out to all Thurrock schools, an increase in the numbers of South Essex College students studying creative and cultural courses and the provision of the first University of the Arts London accredited degree course in costume making through a trailblazing partnership between the Royal Opera House, South Essex College, and University of the Arts London.”


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