Peel agrees utilities deal at Liverpool Waters
Peel L&P has appointed Leep Utilities to provide electricity to the development to support future phases of the £5bn project.
Leep, backed by Peel and investment management firm Ancala Partners, will look to triple utilities capacity to support the first phase of development at the site, which stretched from Princes Dock to Bramley Moore Dock.
The provider will own and operate the new network, also allowing Liverpool Waters to secure capacity for future development phases. Leep also operates networks at Peel’s MediaCityUK as well as at Wood Wharf in London.
Peel is also bringing forward a district heat network to support the megaproject, and secured a £13m loan from the Merseyside Pension Fund last month.
Darran Lawless, development director at Liverpool Waters, said: “With so much activity having already taken place at Liverpool Waters and much more underway, bringing Leep Utilities on board is the next step for us to continue the transformation of the city’s northern docks.
“It’s an incredibly exciting time for Liverpool and we look forward to working with the team at Leep Utilities providing these much-needed networks to developments for Liverpool Waters.”
Louise Manfredi, managing director of Leep Utilities, added: “The increased capacity provides security for future developments at Liverpool Waters and the infrastructure will be in place to provide the power required. We’re delighted to be working with Peel at Liverpool Waters on one of the biggest regeneration projects in Europe, supporting our growth strategy and providing Liverpool Waters with an attractive proposition to occupiers, investors and developers.”