Wirral Growth Company plans to start knocking down the retail complex before the end of the year, now that the sale of the asset has completed.
Place North West revealed last October that the growth company was in line to buy Milton Pavements, part of the Pyramids Shopping Centre in Birkenhead town centre, from Mars Pension Fund.
Wirral Growth Company, a joint venture between Wirral Council and regeneration developer Muse Developments, wants to demolish Milton Pavements along with the B&M store on Claughton Road as part of the first phase of its £1bn regeneration of Birkenhead town centre.
A mixed-use development, extending from the retail precinct to the junction of Europa Boulevard and Price Street and featuring a 150,000 sq ft office scheme, is planned to replace the properties.
A total of 280,000 sq ft of offices and 36,000 sq ft of retail, as well as the relocation of the market, are also proposed in the masterplan.
Later phases of the commercial district redevelopment could include 700 apartments and townhouses, a 110-bedroom hotel and a 300-space car park.
Cllr Anita Leech, chair of Wirral Council’s economy, regeneration & development committee, said: “The purchase of Milton Pavements has given us the opportunity to reimagine our town centre, to upgrade and enhance the built environment and to maximise the commercial possibilities that will be open to us,” she said.
Wirral Growth Company director Mike Horner added: “We are at a pivotal moment as we prepare to start the first phases of the game-changing regeneration of the town centre that will bring inward investment and growth, and drive social prosperity at a time when that is needed most.”