Homes England pledges £55m for Liverpool Waters regen
The grant will go towards unlocking the 2,350-home Central Docks, a Peel-owned brownfield site within the £5bn masterplan.
Homes England will provide a £55m grant from its Brownfield Infrastructure Land fund to pave the way for the Liverpool Waters scheme, which also features a 4.7-acre public park.
The money will pay for the infrastructure work needed to get the 25-acre former dockland development-ready and could unlock £500m of private investment, according to Liverpool City Council.
Last week chancellor Rachel Reeves hinted that stimulus to unlock the site, which she described as stalled, was imminent.
The authority’s cabinet is expected to sign off an agreement with Homes England tomorrow [Tuesday]. The funding is subject to Treasury approval.
Homes England chief executive, Peter Denton, said: “I am beyond pleased to see continued progress at Central Docks as part of the city’s clear vision to completely regenerate Liverpool Waters for the people it serves.
“The provision of funding and expertise, as part of a long-term partnership with the council, the Mayor and the wider sector, is exactly what Homes England is here to do – supporting local places aiming to unlock the potential for change, growth and the creation of sustainable, vibrant communities.”
Liam Robinson, Leader of Liverpool City Council, said the grant would act as a “huge economic catalyst for North Liverpool”.
“I was delighted to hear the new chancellor cite Liverpool Waters as a key scheme in her first speech in the Treasury,” he said.
“Liverpool City Council stands ready to help deliver that mission to unlock our brownfield sites to kickstart a new era of house building.”
He added: “The Central Docks scheme has the potential to be a true flagship scheme of what can be achieved by a partnership between central and local government and the private sector.
Peel Waters won planning approval for Central Docks last year.
Chris Capes, director of development for Peel Waters, said that grant would help overcome the difficulties related to brownfield development.
“The practicalities of developing brownfield sites are always a challenge for investors and developers, and so innovation and partnerships are essential to drive forward the regeneration we all want to see,” he said.
“Investment in this critical infrastructure will help lever in at least ten times the amount in private sector funding, leading to the complete transformation of the Central Docks neighbourhood and the creation of an inclusive, distinctive and healthy new community.”
The cash injection is a clear indicator of the new government’s plans, according to Steve Rotheram, Mayor of the Liverpool City Region.
