Peel unveil £5.5 billion investment plans (UK)

Peel, owners of Mersey Docks & Harbour Company and Liverpool John Lennon Airport, today unveiled plans for one of the largest regeneration schemes in the country.

The visionary scheme will see Liverpool become one side of the ocean gateway to the North West, an international waterside destination to rival cities such as Dubai, Vancouver, New York and Shanghai. Following on from their announcement last September that the Wirral waterfront will be transformed with a massive €6.18 billion (£4.5 billion) waterside redevelopment scheme, Director of Development Lindsey Ashworth announced that a scheme of equal importance and magnificence will be developed along the Liverpool waterfront.

Liverpool Waters will see a £€7.55 billion (£5.5 billion) investment in a 150 acre site that stretches from Princes Dock in the South to Bramley Moore Dock in the North. The 21 million square foot scheme will see the creation of a world class mixed use iconic development of over 50 buildings, many over 50 storeys high. Each building will be individually designed by leading architects from around the world to ensure a mix of iconic styles that will really put Liverpool on the map, bringing with it a massive increase in the number of tourists, tens of thousands of new jobs and inward investment to the area.

Lindsey Ashworth, Development Director at Peel said: "What is essentially the front porch of Liverpool has fallen into a state of neglect and does not do the City justice. Liverpool Waters is a visionary scheme that will transform the waterfront and put the City in the same league as other magnificent waterside cities that are famed world wide. There is no reason why Liverpool cannot achieve this as Peel has the vision, the resources and the expertise to deliver. We look forward to bringing forward the developments at Wirral and Liverpool as one huge scheme that will see the area become the ocean gateway to the North West".

The development at Liverpool would create more than 17,000 permanent new jobs with tens of thousands of additional construction jobs and indirect jobs, bringing a massive boost to the area, similar to what has successfully been implemented at Liverpool John Lennon Airport and The Trafford Centre, Peel will work in partnership with community agencies and local educational institutes, providing life skills and job training to help secure full-time employment for local residents.

Liverpool Waters, together with the Wirral Waters proposals on the opposite side of the River Mersey brings the total investment by Peel in creating these two spectacular waterfronts to more than € 13,73 billion (£10 billion.) It will be the largest investment of this type in the North West for over a century.

An outline planning application will be submitted within the next 12 months. This first phase of the total development at Wirral and Liverpool will be phased over a period of approximately 30 years such is the enormity of this proposals.

Source: Peel

Related News