Liverpool City Council has acquired a major stalled development site in Liverpool city centre.
The Great George Street site is a 4.55 acre brownfield plot which sits at the gateway to the City’s historic Chinatown and close to the Baltic Triangle district, adjacent to Liverpool Cathedral.
Its development has been stalled since 2017, subject to a series of complex legal challenges on leaseholds which the City Council has taken action to resolve.
The company that owned the site, The Great George Street Project Limited entered administration in February 2022.
Since the administration, the City Council has been working with the company’s administrators, Cowgills Limited and Farleys Solicitors LLP to try and finalise the acquisition.
In a major step forward to unlock development, the City Council has now succeeded in securing the site under its own unified ownership (as the freeholder of the site), clearing the way for new homes and businesses on this critical site.
Due to the complexity associated with the long leases on the site and the administration of the company, the sale to the City Council had to be approved by the High Court. High Court approval was obtained on Friday, 15 November and the sale completed just two weeks later on Friday, (29 November).
The Ministry of Housing, Communities and Local Government (MHCLG) and Liverpool City Region Combined Authority (LCRCA) have supported the Council’s approach, with an allocation of £10million funding to complete the purchase and bring forward development options for the site.
This is the latest positive step in building confidence in Liverpool’s exciting investment pipeline, and joins the unlocking of other major brownfield sites such as the nearby Festival Gardens and Central Docks at Liverpool Waters.
The legal ratification also demonstrates the City Council’s commitment to address a legacy of stalled and failed development sites across Liverpool, following its successful exit from statutory government intervention.
Liverpool City Council is now working up proposals for the site that will catalyse regeneration in the wider Chinatown area, building on work being undertaken by the City Council’s Business Support Service with partner organisations.
Just last week, businesses in Chinatown as well as potential investors, student entrepreneurs, community representatives and stakeholder groups came together to share current issues and discuss an action plan to reinvigorate Chinatown’s business, culture, heritage and visitor economy offer.
The Great George Street site is also closely linked to opportunities being realised in the neighbouring Baltic Triangle, where the new Liverpool Baltic Station has secured £96 million of funding from the Liverpool City Region Combined Authority, and is due to open in 2027.
Councillor Nick Small, Liverpool City Council’s Cabinet Member for Growth and Economy, said: “The acquisition of the stalled Great George Street development is a hugely significant step in resetting the story of this major gateway site.
“It’s proximity to the Baltic Triangle, which is undergoing huge change with plans afoot to radically upgrade the transport infrastructure there, means the future development of the Great George Street site is of critical importance to the City.
“I’d like to thank Liverpool City Region Combined Authority and the government for their support in this process. I am looking forward to delivering new opportunities, homes and businesses, to create a vibrant and positive future for our historic Chinatown district.”
Steve Rotheram, Mayor of the Liverpool City Region, said: “I’m really pleased to see Liverpool City Council break through the many legal hurdles that have held this important site back for far too long.
“With that cleared, we’re now in a position to crack on with bringing new homes and jobs to the area, creating genuine opportunities for local people. Along with the addition of the new Liverpool Baltic Station, this is undoubtedly one of the most exciting development projects in the country.”
