The Chrysalis Fund and Knowsley Council have agreed to fund a 210,000 sq ft unit on Knowsley Business Park, brought forward by developer Flintrock.
The developer has secured £9.4m of development finance from the Chrysalis Fund, which has provided £5.4m, and Knowsley Council, which has provided £4.0m, to bring forward the project dubbed Venus 210.
Knowsley Council said Venus 210 was “the largest speculative unit to be built in the Liverpool City Region for more than a decade”. Planning approval for the scheme was secured in July last year, and it has the potential to create around 230 new jobs and £10m of net additional GVA once operational.
Construction is due to begin next month. It is a sister project to the neighbouring Venus 110, built in 2015 and now occupied by Amazon.
Knowsley Council’s cabinet member for regeneration and economic development, Cllr Tony Brennan, said: “This is yet another example of strong developer confidence in Knowsley and aligns perfectly with our ambitious growth plans and our strategy to make the borough a great place to invest and do business.
“Demand for this sort of facility is incredibly high in Knowsley and in the wider Liverpool City Region, so it is really positive for the borough that we will be in a position to accommodate even more ambitious, forward-thinking companies.
“Not only will we see a return on our investment for the benefit of our residents, but this project will also grow our business rates base adding to the ongoing sustainability of the borough whilst at the same time driving job creation and income in both Knowsley and the Liverpool City Region.”