Home Bargains owner Tom Morris revealed as buyer of King Edward Triangle in Liverpool and LBN understands he and developer Hugh Frost have plans to build the city’s tallest-ever skyscraper. Tony McDonough reports
Developers are aiming to build the tallest skyscraper Liverpool has ever seen as part of plans for a cluster of residential buildings close to Liverpool waterfront.
In March LBN exclusively reported that Peel Group, owner of the King Edward Triangle industrial estate next to Princes Dock, had agreed a deal with an investor that would see multiple residential towers built on the site.
On Tuesday that investor was revealed as KEIE, part of the TJ Morris Group which owns Home Bargains. TJ Morris was founded by Tom Morris, who opened the first Home Bargains store in Old Swan in 1976. He and his family still own the business.
KEIE will partner with Hugh Frost, founder of the Beetham Organisation. He was the developer of the 40-storey West Tower and 29-storey Beetham Tower in Liverpool, close to the King Edward site.
The deal to buy the King Edward estate depended on councillors on Liverpool City Council’s cabinet voting to lift restrictive covenants on the site for a fee of £1.5m, which they have since agreed to do.
They are keen to push on with plans to build a cluster of residential towers on the site, comprising 1,200 apartments. And LBN understands this would include a building that would far exceed the height of anything else seen in the city before.
Hugh Frost said: “We can expect a stunning mixed use development worthy of our great city. It’s a privilege and pleasure to be involved again on home soil, in what is going to be a transformational project for Liverpool city centre.
“Our development will bring jobs and prosperity through a variety of uses. The site has outline planning consent as a neighbourhood of the Liverpool Waters masterplan.
“But our proposals will aim to be more ambitious, demonstrating what a well-planned tall building zone can really deliver.”
King Edward Triangle has always been part of the long-term Liverpool Waters masterplan. Commercial units there currently include low rise light industrial units, workshops, retail warehouses, leisure and hospitality uses and a car showroom.
“We are aware of the concerns that existing tenants have and there is genuine empathy for the traders on the estate. Every effort will be made to help them with relocation at the appropriate time,” Hugh Frost added.
Despite Home Bargains being its principal business, TJ Morris is no stranger to property development in Liverpool. It has created an 83-unit student scheme in Duke Street, a 97,000 sq ft warehouse in Speke and a 28-acre industrial site in Huyton.
Dave Little, director of KEIE, said: “We are extremely excited to be able to bring forward this prime redevelopment site. We believe this development will be transformational to our home city and is key to supporting our future economic growth.
“As a local company, we are proud to be playing our part in the regeneration of this area of the city. With the support of TJ Morris, we are well placed and have the expertise, imagination and drive to deliver something special.
“Key to our involvement is our partnership with Beetham who have the right track record and the same desire as us to provide a landmark scheme for future generations.”
Yesterday, LBN revealed that Liverpool Waters owner Peel was keen to identify a new investor to build a hotel close to Liverpool Cruise Terminal which is to be taken over by a private operator.
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Talking about the King Edward deal, Chris Capes, director of development at Liverpool Waters, said: “The King Edward Triangle neighbourhood is a pivotal link between Liverpool Waters, the business district, and the city centre.
“Securing partners with such ambitions for this key site is fantastic news for Liverpool Waters and the city of Liverpool.
“Bringing in other developers and investors to accelerate the regeneration of Liverpool’s northern dockland has always been part of the strategy for the scheme.”