KNIGHT Frank Capital Advisory has been instructed by Purfleet Centre Regeneration Ltd (PCRL) — a consortium of partners comprising Urban Catalyst, Swan Housing Association and Keltbray — to find a funding partner to deliver a major mixed-use development in Purfleet-on-Thames.
Outline planning permission has already been granted by Thurrock Council for the 140-acre site, which will comprise a new town centre with retail and commercial space, a medical centre and primary school, and 2,850 homes.
The scheme will also focus on biodiversity, with approximately 50,000 trees to be planted.
A new network rail station will also be delivered, offering a direct 29-minute journey into Fenchurch Street in London.
The development — which will occupy 1km — will also feature circa one million sq ft of space dedicated to television and film production studios and the creative industries.
Design and programme proposals are in place for the first two phases, with stage 1A already fully funded and on site.
Swan Housing’s modular construction factory is being used for the early phases of the project.
Knight Frank is seeking up to £1bn of residential and commercial equity and debt to finance the future phases of the £1.3bn project.
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