A year in review

2024 was a landmark year for Peel Waters. 

As the calendar year draws to a close, take a look at some of the key highlights from Wirral Waters including us developing 500 new homes at Millers Quay on behalf of PIC; as well as what announcements and milestones to look out for in 2025.

Millers Quay: Transforming the Wirral Waters waterfront

The standout development this year for Wirral Waters has been Millers Quay. The £130m cornerstone residential scheme of 500 new homes across six buildings is seen as an exemplar in brownfield regeneration.

Millers Quay is the single biggest development to date at Wirral Waters and will include 100 affordable new homes and the development has ranked in the top 10% of new buildings for green credentials.

Peel Waters have been the developer of the Millers Quay on behalf of its funding partner, Pension Insurance Corporation plc (“PIC”) and used construction firm GRAHAM. The first phase of the landmark development [150 homes] completed in July with the remaining 350 homes set to finish by January 2025.

Reflection from James Agar, Head of Long Income at PIC 

“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.”

Find out more about Millers Quay, Wirral Waters here.

What to look out for in 2025

Completion of Millers Quay Phase 2

Launching in January 2025, bringing an additional 350 apartments and marking the completion of the full development.

Planning decision Sainsbury’s Local Wirral Waters

In September Sainsbury’s submitted a planning application for a new store adjacent to Millers Quay, promising greater convenience, choice, and job opportunities for the growing residential community. Planning decision expected early 2025.

Planning submissions

The next phases in the regeneration of both the Northbank – including Redbridge Quay phase 2 – and Mea Park neighbourhoods will both be submitted in early 2025.

Start on Site – Egerton Village

The new village within Wirral Waters which will provide a dockside restaurant, bistro, a coffee shop, retail units, artist studios, workspaces as well as an outdoor event space will be starting on site in 2025.