Tower Road development will provide an incubator facility for fledgling entrepreneurs and the two upper floors will offer grade A office accommodation. Tony McDonough reports
Planners in Wirral have given the go-ahead to a £7.5m workspace and business incubator in Wirral Waters.
Peel has applied to the Liverpool City Region Combined Authority for a SIF (Single Investment Fund) grant to enable the facility to be built on Tower Road in the heart of the waterside project.
It will provide an incubator facility for fledgling entrepreneurs and the two upper floors will offer grade A office accommodation, including co-working space and larger 3,000-4,000 sq ft suites.
Once built, the Tower Road development will afford tenants waterside views across the East Float Dock and across to Liverpool’s skyline and will support the demand for quality work space among the region’s small business sector.
The design of the building will be in keeping with the £10.5m Wirral Metropolitan College building next door, which was recognised with a number of Royal Institute of British Architects (RIBA) architectural awards, as both buildings have been designed by Glenn Howells Architects.
National planning and development consultancy, Turley, acted for Peel in the planning submission for the Tower Road building.
The council’s approval of this development will add significant weight to Peel’s application for a SIF grant. The Single Investment Fund is the key funding tool for promoting economic growth in the Liverpool city region.
Richard Mawdsley, development director at Peel Land & Property, said: “Our 30-year strategy for Wirral Waters focuses on enabling global companies to trade alongside businesses from the Wirral and Liverpool, creating more than 20,000 permanent new jobs.
“The new Tower Road workspace has been designed with Wirral’s small business community in mind. From solo entrepreneurs to SMEs, the development on Tower Road will offer a high tech co-working environment in the centre of an internationally recognisable destination where innovation, sustainability and industry thrive.”
Wirral Waters is part of the Mersey Waters Enterprise Zone, which means the local authority can retain 100% of business rates from tenants on the proviso that the rates are then reinvested back into the Enterprise Zone to create jobs, rates and homes.
Cabinet member for Regeneration and Growth, Cllr Tony Jones, said: “This development will play a key role in bringing investment, jobs and prosperity to Wirral. The provision of high-quality grade A office space is a key factor in attracting and retaining entrepreneurs and small businesses.”