Liverpool City Council has stepped in to acquire a 4.55-acre brownfield site for regeneration, which is in a prime location near to the bustling Baltic Triangle District and the historic Chinatown area. There is the potential for new office space, hospitality venues and homes, alongside integration with the neighbouring areas.
BDC reports that Liverpool City Council purchased the site after the previous developers went into administration. Previously, the redevelopment had been stalled by complex legal issues in relation to leaseholds. Now the High Court has resolved the legal case, opening the door for the Council to acquire the prime site.
This is a further exciting step for Liverpool, a city which is booming with investment and regeneration, notably around the dockland areas. The centrepiece is the new Everton Bramley Moore Dock Stadium, which is set to open next year.
A £10 million funding allocation has been approved from the Ministry of Housing, Communities and Local Government, and the Liverpool City Region Combined Authority to support the new development at Great George Street.
Councillor Nick Small, Cabinet Member for Growth and Economy at Liverpool City Council, said: “The acquisition of the stalled Great George Street development is a hugely significant step in resetting the story of this major gateway site.”
“Its proximity to the Baltic Triangle, which is undergoing huge change, means its development is critical to Liverpool’s future. I’m looking forward to delivering new opportunities, homes, and businesses to create a vibrant and positive future for our historic Chinatown district.”
The new development will attract further jobs, investment, and business opportunities to this thriving north west city.