REGENERATION
Vision – an artist ’ s impression showing how part of the proposed Gresham development might look .
Experienced Gresham developers aim to make transformational scheme catalyst for town centre regeneration
THIS IS JUST THE START
The developers behind an exciting vision set to breathe new life into the heart of Middlesbrough believe the development can be a catalyst for broader regeneration across the town centre .
The Middlesbrough Development Corporation ( MDC ) has joined forces with experienced property developers iMpeC and Buccleuch Property to design a rejuvenated Gresham .
The proposals will offer high-quality living space and a hotel to kick-start the MDC ’ s plans to regenerate the centre of Middlesbrough .
Subject to the rubber-stamping of an asset transfer to the MDC and subsequent MDC approval , a planning application for the first phase is due to be submitted in October , with work set to start in 2025 . Teesside-based iMpeC is a leading property development and investment company whose UK-wide projects deliver exceptional places for people to live , work and play .
With projects ranging in value from £ 10m to more than £ 200m , iMpeC focuses on town and city-centre regeneration , mixed-use developments and strategic land opportunities .
The business is run by partners Neil McMillan and Leigh Cresswell . Stocktonborn Neil set up iMpeC in 2015 after leading major regeneration projects for a large PLC . Fellow director Leigh , who was born in Darlington , joined forces with Neil in 2020 , having previously co-owned a UK-wide affordable housing developer while also developing a customer care business for the property sector . iMpeC has established a reputation for working closely with local authorities and public and private sector bodies to secure funding to unlock challenging brownfield sites that have often laid dormant for decades , similar to the derelict land at Gresham .
Neil said : “ I ’ ve partnered with other investors and landowners on some large-scale projects across the region over the years and it ’ s always been my desire to work on a transformational project on Teesside . While there are obvious challenges , we see a big opportunity with this site and it is a perfect fit for our skill set .
“ iMpeC has a breadth of experience when it comes to working with local authorities and other stakeholders on urban developments , often specialising in unlocking more difficult sites such as the land in Gresham .”
Leigh added : “ Middlesbrough has Teesworks on its doorstep , thriving businesses and an absolute gem of a university . But we wouldn ’ t be here if the MDC ’ s vision wasn ’ t perfectly aligned with our own .”
Also key was an opportunity to work on the project with iMpeC ’ s regular partner , Buccleuch Property , a highly respected private property investment and development company that maintains investments across the UK and USA , with a market exposure of around £ 250m .
Looking forward to the challenge ahead , Neil said : “ Our vision is to create a new choice of accommodation for the town that will help attract and retain students and young professionals and support
Catalysts – iMpeC directors Neil McMillan ( left ) and Leigh Cresswell on derelict Gresham land they plan to transform .
recruitment for the rapidly growing digital , professional services and advanced manufacturing sectors .
“ By offering new professionally managed rental accommodation with flexible terms , unparalleled service and high-quality amenities , comparable to those in university cities like Newcastle , Leeds and Manchester , we can provide a new housing offer that will appeal to a broad range of people , particularly students and young professionals .
“ Attracting and retaining this group within Middlesbrough is crucial for the town ’ s future prosperity .
“ Providing accommodation for around 1,000 residents will boost local businesses and drive further investment . We are determined to make this development a catalyst for broader regeneration across the town centre .”
For more information on iMpeC visit impec-uk . com
* See page 60 for more about the Gresham plans , MDC and its counterpart in Hartlepool .
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