Canada Life to forward fund £75m Birkenhead offices 

Two offices totalling 150,000 sq ft form the first phase of the £1bn regeneration of the town centre, being led by Wirral Council and Muse Developments. 

Investment and pension fund Canada Life Asset Management has agreed to forward fund the development of Wirral Growth Company’s two new Grade A office schemes in Birkenhead, investing £75m. 

“This funding is a huge vote of confidence in what we are doing,” said Mike Horner, development director at Muse Developments and director of Wirral Growth Company.

Wirral Growth Company, a joint venture between the council and regeneration specialist Muse, was advised by Savills and CBRE advised Canada Life Asset Management. 

The office development will be followed by the creation of a new market hall on the town’s House of Fraser site, as well as around 650 homes, a 110-bedroom hotel, and a 300-space car park.  

Plans for the 15-year, 27-acre masterplan were approved in April.

Horner added: “By having a high-profile fund such as Canada Life on board, it is not only driving inward investment into Wirral, which is a promise we made at the beginning of this project, but it also demonstrates the strength and potential of what we’re creating here and further cements our commitment to delivering a vibrant town centre which will once again be attractive to people from all over the borough.”  

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Wrapper lease? They’d be silly not to fund.

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Nice to see development on the other side.

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