Council buys in Pall Mall to bring forward offices
Liverpool City Council has approved the purchase of a site behind Exchange Station from the Homes & Communities Agency for an undisclosed sum, as part of plans to build a £200m commercial scheme at Pall Mall.
The three-acre plot was formerly part of the train station, and is now partly an NCP car park and partly public realm. HCA has held the freehold since 2010, and prior to that the site was under the control of the North West Development Agency.
Exchange Station ceased operating as a train station in the 1970s and was converted into offices.
According to a report to Liverpool City Council’s cabinet, which met on Friday 11 December to discuss the project, the site could accommodate up to 350,000 sq ft of offices. The council would use money from its recent Regional Growth Fund allocation to pay for a contractor for remediation works, and then secure a developer.
According to recent marketing materials from Liverpool Vision, the plot is part of a wider 8.5-acre site around Pall Mall which could deliver up to 2m sq ft of offices with a development value of £200m over the next decade. The other plots being incorporated into the plan are 30 Pall Mall, which is owned by West Bay Capital and has planning consent for 230,000 sq ft of commercial space, and a car park owned by NCP and Hillstep, which is seen as a long term development site.
In 2005 Liverpool Vision gained outline planning permission for a £130m Pall Mall business quarter on the site designed by RHWL Architects. Detailed planning applications were never brought forward due to difficult market conditions.