The Merseyside economy is set for a fresh boost with a £130 million investment from a pension fund investor in the Wirral Waters scheme.
Pension Insurance Capital will become the sole investor in the Wirral Waterfront One site under the deal, which will include the construction of 500 build-to-rent homes and 100 affordable properties.
This funding will pay for the development of the Northbank site, which is located next to the Great Float Docks and has been derelict for 20 years. The new development will be incorporated in six building blocks.
Developer Peel is seeking to redevelop the wider Wirral Waters site over 30 years, with this scheme being part of the government’s ‘levelling up’ programme.
While the development lies across the Mersey from Liverpool itself, it could help spur further investment in the region, particularly in the docklands on either side of the river.
Indeed, the construction of attractive new homes will go hand in hand with future business investment, providing pleasant places for people to live as they take up higher-paid and high quality jobs in Liverpool offices.
While this latest development may be taking place some way from Anfield, dockland developments do have various knock-on effects on other parts of the city region.
A particular direct impact is coming from the redevelopment of Liverpool’s northern docks, with the construction of the new stadium for Everton at Bramley Moore Dock now at the stage where above-ground structures are starting to rise up.
This in turn means the club will vacate Goodison Park, its home since 1892. Plans to re-use the land as a mixed-use development of homes, retail space, offices, a school and health centre have been backed by community leaders in the L4 Postcode, giving the Anfield and Walton areas a big boost.
Famously, Everton played at Anfield before moving the short distance to Goodison Park after a dispute with their landlord John Houlding, who then formed Liverpool FC to play at the now vacant stadium.