Liverpool City Region Combined Authority has approved in principle a £12m grant for infrastructure work to unlock development at the £1bn Paddington Village.
The grant, from the authority’s Single Investment Fund, will pay for enabling works, including demolition of existing buildings and bringing services to the site, on the central 8.4 acres of the 30-acre Paddington Village, the flagship regeneration scheme for the Knowledge Quarter being built on the former Archbishop Blanch school site.
Paddington Village will see the arrival of the Royal College of Physician’s £35m Northern Centre of Excellence, a learning centre for the Liverpool International College and the new £35m Rutherford Cancer Centre North West.
Planning permission has already been granted for the international college and cancer centre, both of which are scheduled to open in 2019, and an application from the RCP is expected in early 2018. A further 140,000 sq ft of offices, in addition to the RCP North building, is being proposed as part of Paddington Village.
Part of the city region’s devolution agreement with central government, the SIF is its key funding tool and could see more than £458m invested in projects over five years.
Colin Sinclair, chief executive of KQ Liverpool, said: “Paddington Village is one of the most exciting and innovative schemes in the Northern Powerhouse and will further contribute to the £5bn plus Health and Life Science cluster that already exists in Liverpool City Region. With the hoardings up at Paddington, and this vital investment in the site infrastructure now in place, we have taken a huge step towards KQ Liverpool becoming a world-leading innovation district and a global destination for science health and education.”