A Liverpool city centre development site that was originally earmarked for a £200m mixed-used scheme is taken over by the city council. Tony McDonough reports
Liverpool City Council has taken control of a development site in the city centre that was originally earmarked for a £200m mixed use scheme.
In 2015 North Point Global proposed the New Chinatown development on a 4.55 acre brownfield plot close to Liverpool Cathedral. This would have included 800 homes, a hotel and 140,000 sq ft of office space.
However, the project stalled in 2017 and the company that owned the site, The Great George Street Project Limited entered administration in February 2022.
Another local developer, Ascot Group, is believed to have been keen to acquire and develop the land but now the council has stepped in to take control. It will now draw up options for a new scheme and seek a development partner.
Cllr Nick Small, Liverpool City Council’s Cabinet Member for Growth and Economy, said: “The acquisition of the stalled Great George Street development is a hugely significant step in resetting the story of this major gateway site.
“It’s proximity to the Baltic Triangle, which is undergoing huge change with plans afoot to radically upgrade the transport infrastructure there, means the future development of the Great George Street site is of critical importance to the city.”
Since the administration in 2022, the Council has been working with the company’s administrators, Cowgills and Farleys Solicitors to try to finalise the acquisition. It has now succeeded in securing the site under its own unified ownership (as the freeholder).
Due to the complexity associated with the long leases on the site and the administration of the company, the sale to the city council had to be approved by the High Court. On Friday, November 15, the court approved the sale.
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The Ministry of Housing, Communities and Local Government (MHCLG) and Liverpool City Region Combined Authority (LCRCA) have supported the Council’s approach, with an allocation of £10m funding.
Metro Mayor Steve Rotherham added: ““I’m really pleased to see Liverpool City Council break through the many legal hurdles that have held this important site back for far too long.
“We’re now in a position to crack on with bringing new homes and jobs to the area. With the addition of the new Liverpool Baltic Station, this is undoubtedly one of the most exciting development projects in the country.”