Middlesbrough is set to undergo a major transformation as planning approval is granted for a £200 million mixed-use regeneration scheme in the heart of the town centre.
Led by developers iMpeC and Buccleuch Property, in partnership with the Middlesbrough Development Corporation, the ambitious Gresham Street project will be delivered by Wates Group—appointed as lead contractor for what is being hailed as the most significant investment in the town for a generation.
The first phase of the masterplan includes more than 240 build-to-rent (BTR) homes and accommodation for over 450 students. Talks are also progressing with global hotel brand Fairfield by Marriott to open a 200-bed hotel as part of the development.
Set on a long-derelict brownfield site, the regeneration forms a key part of the wider Middlesbrough masterplan. A new pedestrian route is also being planned to link Diamond Road with Linthorpe Road and King Edward’s Square, reconnecting key parts of the town.
Wates’ Managing Director for Construction East, David Wingfield, said: “We’ve been delivering projects in Middlesbrough for almost a decade, and this scheme represents a real leap forward. Regeneration should outlast the building itself—it’s about creating thriving places and delivering long-term value to the community.
“With this project, we’re aiming to generate more than £50 million in social value, ensuring we leave a legacy that benefits the people of Middlesbrough well into the future.”
Neil McMillan, Director at iMpeC, echoed the transformative potential of the project: “This isn’t just about bricks and mortar. It’s essential for Middlesbrough’s future prosperity and will support local businesses, create jobs, and help shape a vibrant new chapter for the town.”
Tees Valley Mayor Ben Houchen added: “This is a landmark development for Middlesbrough. Our Development Corporation is helping to cut through red tape and bring long-neglected areas like Gresham back to life. It’s about getting on with the job and delivering a town centre where people want to live, work, and relax.”
Construction is expected to begin this summer following the recent transfer of land and assets from Middlesbrough Council to the Development Corporation.
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