Peel objects to rival Liverpool tower plans

Proposals by joint venture partners Y1 and Richmont for a 54-floor tower on the site of the former King Edward pub near Liverpool's waterfront have been opposed by Peel Holdings.

Peel, which failed in its previous bid to buy the pub site, but owns the adjoining industrial estate, says its rivals' project could interfere with its massive Liverpool Waters regeneration masterplan. Peel's £5bn framework includes building its own £300m, 60-storey Shanghai Tower at Princes Dock.

Peel's development surveyor Ian Pollitt said: "Peel has objected as we believe that, if this development was carried out in isolation, it would prejudice the planning of the wider area and thereby impact on the potential significant regeneration benefits."

Y1, which is owned by Formby property investor Ray Smith, says the finance is available for construction work to start at the site as soon as planning is approved. Property dealer Bill Beaumont owns Hoylake-based Richmont.

The skycraper would contain 512 apartments, 25,000 sq ft of office space, and a further 7,500 sq ft of retail and leisure space.

Peel is currently conducting an architectural competition for the Shanghai Tower.