Liverpool City Council has appointed a leading team of property developers to begin a “game changing” £200m transformation of the city’s business district.
Kier Property and CTP Limited have won the tender to redevelop Pall Mall Exchange providing up to 400,000 sq ft of Grade A+ office space over three new buildings.
The scheme will quadruple the city’s supply of Grade A+ office space in Liverpool’s commercial business district, which has seen available capacity drop below 100,000 sq ft.
The city council will also explore with Kier, which last year completed the new £45m grandstand at Cheltenham Racecourse and delivered Sheffield’s St Paul’s Place office quarter, how they can work with the new owner of the adjoining seven acre car park to deliver a comprehensive redevelopment of this prime city centre site for a complementary mixed-use scheme including a hotel, a new car park, leisure uses and up to 2,000 new homes.
In total it is estimated the two phase development, which lies within the city centre’s Enterprise Zone, would be worth £200 million and create in excess of 1,800 jobs.
The scheme is one of 175 identified developments, either on site or in the pipeline, which will bring more than £11 billion of investment in to Liverpool.
The first phase at Pall Mall Exchange, part public realm and part car park, was once part of the historic Exchange Street station and lies within a two minute walk to Moorfields train station which is connected to the mainline station at Lime Street and the wider Northern Powerhouse.
The three acre development would help meet demand for high spec office accommodation in the Commercial Business District, as highlighted in the city centre’s 15 year blueprint for growth.
It is anticipated that a planning application will be submitted later in the year for the site, after a period of consultation.
The second phase site would connect to St Paul’s Square, which underwent a £120 million development in 2011 and is now home to major companies such as Atos, DWF, Hill Dickinson, US Airways, Bosch, Investec, Maersk, Santander and Weightmans.
Mayor of Liverpool Joe Anderson said: “I’m delighted to have Kier Property and CTP Ltd, who have to their names a fabulous track record, as our partners in this hugely ambitious and potentially game changing development for Liverpool’s business district.
“We know we need more top quality office accommodation in Liverpool and this site is perfect because it is all about location, location, location. And having a partner who has has an international reputation for delivering high profile schemes with flair and imagination is a great boost to our plans.
“As a growing city, it is vital we have the right office space available in the right place and Pall Mall is part of a natural expansion of the commercial district.
“We’ve already seen huge success in securing the Northern headquarters of The Royal College of Physicians (RCP) at the expanded Knowledge Quarter, and this is another opportunity to create accommodation that will attract marquee businesses offering high quality jobs.”
Kier Property and CTP were supported in their bid by leading master planners and architects Allies & Morrison, along with Curtins, G&T, Ernest Griffiths, Eversheds and SWECO. CTP and Kier Property were advised by Colliers and Worthington Owen.
James Nicholson, director for Kier Property north, said: “This is a fantastic opportunity in the heart of Liverpool and we are delighted to have been selected to work with CTP in delivering the Pall Mall development with Liverpool City Council. We see this as an exceptionally high profile scheme and will ensure that we work as a team to raise the profile and regenerate the city, creating a commercial space we can be proud of.”
David Topham, Chief executive at CTP Ltd, added: “We have tracked the Pall Mall site for over ten years and we are delighted to now have the opportunity, along with our partners Kier Property and Liverpool City Council, to bring forward fresh and exciting proposals to expand and enhance the Liverpool CBD. For CTP this is a major project and builds on our long experience at developing high quality place making and workspace for the community to work, visit and live in.”