LCR launches funding pot to unlock labs, offices and industrial
Schemes like the stalled Pall Mall and Hemisphere at Paddington Village could benefit from cash from the combined authority, aimed at tackling “key market failures”.
The funding is aimed at projects delivering grade A offices in the central business district, specialist laboratories, and industrial space, according to the Liverpool City Region Combined Authority.
Sectors the funding is seeking to grow include health and life sciences, creative industries, digital and tech, advanced manufacturing, and clean energy industries.
The funding is open for bids until 1 April.
Projects that have a “clear route to delivery” will have the best chance of securing cash from the fund, according to the LCRCA. A condition of the funding will be a start on site by the end of September 2027.
The three funding calls are as follows:
- Grade A offices – A minimum 60,000 sq ft of new or refurbished commercial floorspace in Liverpool’s central business district. Pall Mall fits the bill and has already secured £15m from the city council to plug a viability gap.
- Specialist laboratory space – projects that deliver new or refurbished category one or two laboratory space, clean room space, and ‘write up’ facilities which can support the growth of high potential start-ups in the Liverpool City Region. At least 40% of overall floor space should be earmarked for health and life sciences occupiers. Hemisphere at Paddington Village is one of the city council’s priority projects and meets these criteria.
- Premium industrial units – The LCRCA is seeking to invest in the delivery of units of new or refurbished floorspace designed to accommodate occupiers undertaking industrial activities and advanced manufacturing.
Cllr Mike Wharton, Liverpool City Region cabinet member for business, investment and trade, said: “Unlocking high quality land and property is fundamental to the future of the Liverpool City Region. These new funding calls will accelerate the development of the modern offices, laboratories and industrial space our growing sectors need.
“This is about creating the right conditions for businesses to innovate, invest and expand, so that our communities continue to benefit from more jobs, more opportunities and a stronger, more resilient economy.”
How much cash is available, the article doesn’t specify? Quite telling of where the market is in the LCR that grant funding is needed to fund Grade A offices. Liverpool not just outpaced by Grade A delivery in Manchester, but there’s actually more signs of tangible delivery n towns and cities such as Preston and Blackburn. The starting point needs to be Pall Mall that has lay dormant for years right in the heart of the central business district. Will be interesting also to see whether the LCR can attract its share of data centres and not just more logistics and storage sheds.
By Anonymous
@Anonymous – Grant funding, is needed for Grade A offices in Manchester aswell!
By Happy Chappy
Office isn’t viable in Manchester either…
Plus only one of the two cities has a pipeline of deliverable new schemes…
By Anonymouse
@Anonymous- Data centres don’t create direct jobs, require loads of land, and eat up a lot of power supply. Other than that, what are the benefits?
By Datum
With Pall Mall having already secured granting funding and pre-lets imminent, surely this is a great opportunity for other schemes in the CBD to come forward. One 100,000 sq.ft. building is not going to do anything for the market dynamics.
By Mr Optimistic
Is there enough time before the deadline. When was this announced and have interested parties made representations yet?
By Liverpool4Progess
If they want your cash, tell them to use local skills. Your construction sector needs your support. Don’t keep wasting opportunities when you get them.
By Teresa Green
Grade A offices definitely do receive viability gap funding in Manchester also!
By Lizzy Baggot
This was supposed to have started last year?
Then Steve Rotheram said they were short of millions to start it now LCC say come and ask us.
So do these two organisations communicate with each other?
By Liverpolitis