£1.3bn Purfleet-on-Thames town centre development looks for funding partner

Knight Frank Capital Advisory has been instructed by Purfleet Centre Regeneration Ltd (PCRL) — a consortium of partners comprising Urban Catalyst, Swan Housing Association and Keltbray — to find a funding partner to deliver a major mixed-use development in Purfleet-on-Thames, Essex.


Outline planning permission has already been granted by Thurrock Council for the 140-acre site, which will comprise a new town centre with retail and commercial space, a medical centre and primary school, and 2,850 homes.

The scheme will also focus on biodiversity, with approximately 50,000 trees to be planted.

A new network rail station will also be delivered, offering a direct 29-minute journey into Fenchurch Street in London.

The development — which will occupy 1km — will also feature circa one million sq ft of space dedicated to television and film production studios and the creative industries.

Design and programme proposals are in place for the first two phases, with stage 1A already fully funded and on site. 

Swan Housing’s modular construction factory is being used for the early phases of the project.

Knight Frank is seeking up to £1bn of residential and commercial equity and debt to finance the future phases of the £1.3bn project.

James Mannix, head of residential development and investment at Knight Frank, said: “This is a project of enormous scale and significance and, once complete, will totally transform and redefine Purfleet-on-Thames and the surrounding area.”

Birju Shah, head at Knight Frank Capital Advisory, added: “We are approaching a very limited group of shortlisted candidates with this exciting opportunity. 

“At the end of the process, the selected funding partner will hold an equity stake in some leading industries and sectors — including television and film production and BTR — which will provide interesting long-term profit-making opportunities for the future.”

PCRL is committed to delivering a net zero carbon solution through the government’s 10 Point Plan and is set to meet the Future Homes Standard, targeting a 75-80% reduction in emissions in new-build homes by 2025. 

Leave a comment