Liverpool City Region Combined Authority and Merseyside Pension Fund are backing the construction of the £7m, 34,000 sq ft office building close to the Mersey. Tony McDonough reports
Property giant Peel L&P has secured funding to build a new 34,000 sq ft office building in Wirral Waters.
Liverpool City Region Combined Authority and Merseyside Pension Fund are backing the construction of No 1 Tower Road South, which will offer flexible grade A workspace for new and existing businesses. It will provide enough space for 113 workers.
Located within the Wirral Waters Enterprise Zone, the development will target local businesses and inward investors looking to either relocate or who require modern, sustainable floor space options to facilitate their growth.
With funding secured the No 1 Tower Road South development will continue the regeneration of the wider Four Bridges neighbourhood area within Wirral Waters. Tower Road is already home to Wirral Metropolitan College and the Tower Wharf building occupied by The Contact Company.
As well as the new offices, the Four Bridges neighbourhood will see the development of Egerton Village, a hub for retail, amenities and the arts, and the Maritime Knowledge Hub which will provide a national base for marine engineering research and development and survival training as well as business accelerator space for the marine sector.
Work is also progressing well on Tower Road itself, with a new, improved and adaptable streetscape design to support existing occupiers, delivery of which started in June . Improvements made in this streetscape scheme, and the wider Wirral Waters development, aim to attract new residents, students, visitors and new businesses.
In November 2019, work started along the Northbank/Dock road site which will see 1,000 new homes built in the coming years. Richard Mawdsley, Peel L&P’s director of development for Wirral Waters, said: “Securing this funding deal for No 1 Tower Road South means this multi-million-pound business hub can proceed as planned, bringing investment, economic growth, and jobs to Wirral.
“We hope to be announcing the contractor very shortly and with work starting onsite in the autumn.”