Liverpool welcomes multi-million-pound investment
The local authority have expressed their gratitude for the £31m boost for it’s life sciences hub and for one of the city’s well-loved markets.
On 1st March 2024, Michael Gove, Secretary of State for Levelling Up, Housing and Communities, announced at the Convention of The North conference that Liverpool would be receiving a £31m investment package.
The majority of the funding will be spent on the development at Paddington Village in the heart of the city’s 450-acre Knowledge Quarter Innovation District, with the minister stating the government’s support for an ‘arc of opportunity’ across the city to Bramley Moore Dock.
Zooming in on the projects happening in Paddington Village, the funding will used as follows:
- Up to £13m spent on delivering HEMISPHERE One – a new eight-storey Grade A office which will include up to five floors of new labs and promote net zero principals in Paddington Village
- Up to £13m to acquire sites (including Smithdown Lane Police Station) and remediate and masterplan phase two of Paddington Village, otherwise known as Paddington South
- Up to £5m to enable an upgrade for Great Homer Street Market in Everton, which will allow for its expansion to attract more traders
HEMOSPHERE One is a £60m scheme to be delivered by Sciontec – a partnership between the council and the University of Liverpool, Liverpool John Moores University and Bruntwood SciTech.
The 115,000 sq ft scheme, which is set to be complete by early 2027, will include 80,000 sq ft of lab space in the building’s top five floors, in line with the Liverpool City Region’s Health and Life Sciences Investment Zone vision.
Secretary of State for DLUHC, Michael Gove, MP, said: ‘We know there is immense potential for urban regeneration in Liverpool and the wider city region.
‘That is why the vision set out in the Liverpool Strategic Futures Advisory Panel report is so important. And that’s why we are backing it today it with £31m of new money for regeneration projects, which trace an arc of opportunity from the Knowledge Quarter to Bramley Moore Docks on the waterfront.’
Liverpool City Council set out its investment proposal to the Department of Levelling up, Housing and Communities late last year and this funding announcement follows the Interim Report of the Liverpool Strategic Futures Panel, chaired by Metro Mayor Steve Rotheram.
Council Leader, Cllr Liam Robinson, said: ‘We are delighted that the Government has endorsed our plans and is willing to invest in Paddington Village in our Knowledge Quarter. This investment will help to accelerate the city’s future as a world-leading science and innovation hub.’
‘This funding is also a huge vote of confidence in our vision to be one of Europe’s leading centres for research and development in the life-sciences,’ Cllr Robinson said. ‘HEMISPHERE One is going to be a fantastic asset to the city, creating much-needed lab-based jobs for decades to come. The other tranche of funding will ensure we can develop the second phase of Paddington Village and enhance the city’s overall appeal to attract further investment and more jobs.’
Cllr Robinson added: ‘In addition, the funding for Great Homer Street Market is equally welcome as this will ensure we can grow this vital community asset in North Liverpool.’
Images: Liverpool City Council and Laurie Byrne
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