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MediaCityUK secures loan for next stage of development

Part of a planned £1 billion phase of development

MediaCityUK’s owners Peel Media and Legal & General Capital have secured a £292.5 million loan to fund the next phase of its development.

The five-yea banking facility is part of a planned £1 billion second phase of development at MediaCityUK, which will include 540,000 sq ft of offices, 1,800 apartments, retail and leisure, public spaces and a pedestrian street.

Stephen Wild, managing director at MediaCityUK,said: “We are delighted to have such strong support from our lenders and this arrangement helps support our aspirations for future development.

“Our phase two plans will focus on driving forward the already established residential community at MediaCityUK, as well as acting as a magnet for even more digital and tech businesses. It promises to be an exciting next 10 years!”