Development partnership behind Stockport 8 raises £200 million to back future regeneration schemes

ECF, the development partnership of Homes England, Muse, and Legal & General which is bringing forward the Stockport 8 regeneration scheme in the town centre, has expanded with the injection of an additional £200 million funding.

The partnership, first established as English Cities Fund in 2001, has seen an additional £100 million of equity from partners that is to be matched with £100 million in debt in order to further deliver transformational schemes across the country.

By 2036 ECF is expected to deliver more than 1 million sq ft of commercial space to support education, 17,000 new homes, and additional social infrastructure to support health and wellbeing. ECF delivers with a focus on place-based impact and investing in opportunities which deliver risk adjusted returns, alongside positive social and environmental outcomes.

In Stockport, the partnership is working alongside Stockport Mayoral Development Corporation to bring forward Stockport 8, a proposed eight-acre neighbourhood of 1,200 new homes off King Street West in the Town Centre West regeneration district. A public consultation on the plans launched in January 2024.

The additional boost of capital for ECF will enable it to have a faster and greater impact across new locations, alongside existing place-based partnerships such as in Stockport.

Sir Michael Lyons, Chair of ECF, said:

“ECF has had a real impact on cities such as Salford, Liverpool, London and Plymouth. We have really changed the places in which we have invested. We have provided homes, jobs, work space and new public realm. We always take a long-term view, emphasise sustainable change and work closely with local partners, sharing risks and rewards where that is possible.

“With this further expansion we will be able to invest in new towns and cities and will continue to bring our unique mix of policy expertise, long term investment and development capability to support their communities.“

Phil Mayall, Managing Director at Muse, said:

“ECF has, and continues to, deliver complex, impactful, and sustainable regeneration. Working in partnership with Homes England and Legal & General, ECF is unique in its ability to deliver challenging regeneration over the long term.

“ECF’s expansion is testament to the team’s success over two decades, with a track record of delivery. With greater resources, we will have an even greater impact on places and communities. Our team will work with new and existing partners, across all the regions in which we operate, to realise this potential in a way which delivers genuine social value.“