Continued investment in Liverpool
Liverpool has emerged as a more prominent player in the north in recent times, as the city attempts to mirror growth seen in neighbouring Manchester over the course of the last half decade.
Schemes like the billion-pound plus reinventing of the Knowledge Quarter, providing fantastic collaborative opportunities between businesses and universities have helped Liverpool to put itself on the map as a growth city. But it’s not just the centre of the city itself that is now on the cusp of thriving.
One of Liverpool’s most iconic landmarks is its historic Albert Dock, which has been a feature of the city since 1846, when the city was thriving as an industrial port. Now, plans are in motion to reinvent the 60-hectare area as a mixed-use, world class quarter that will strive to bring together retail, offices and residential buildings to create a new community in an area that has long been crying out for something new.
Investment in Liverpool continues to grow
Investment in Liverpool is one of the hottest places in the UK for regeneration at the moment, and with good reason.
As well as the rising student numbers that are flowing into the city thanks to the regeneration of the area, there has been a climb in the number of businesses coming to Liverpool, helping the Merseyside city become the fastest rising in terms of productivity in the UK outside London.
By making use of parts of the city that have been overlooked in recent years, local authorities are hoping to make the most of the momentum that has come from this growth, and keep it going for the next few years through new developments that create thriving communities.
In the past 12 months, Liverpool has also become one of the most prominent UK locations for start-up businesses. According to a report from DueDil, for 2016 as a whole, Liverpool saw the number of small businesses in the city expand by more than 21 per cent, and it’s expected that this will grow again in 2017, with another 6,000 new businesses set to come to the city this year.
This sort of appetite for Liverpool as a centre of business is one of the main reasons for the growth and regeneration of the city that has been taking place in recent years, and with more demand for new workplaces and residences as a result, it makes sense that there are plans for this to continue for some time to come.
The Liverpool Waters development at the docklands is set to be one of the biggest regenerations ever seen in the UK, with 2.3km of the city’s coast set to be transformed into an extension of the city centre Central Business District. Some £5 billion has been set aside for the project, which will see more than two million sq.m of mixed use floor space built in the years ahead.
The Waters development is made up of four distinct areas; Wirral Waters, Central Docks, Princess Dock and Northern Docks, each of which will bring home, work and life together in unique focused communities to give Liverpool’s waterside a fantastic new edge that should attract businesses and residents alike for years to come.
When completed, the Liverpool Waters development will have more than 9,000 new homes, 315,000 sq.m of office space, 35,000 sq.m of conference rooms and hotel rooms, 27,000 sq.m of restaurants and cafes, as well as two parks and a cruise liner terminal, turning what was once an increasingly obsolete part of the city into something for everyone.
On top of the increased focus on residential, community, work and lifestyle centres, Liverpool Waters is also hopeful of delivering an all new boost to the infrastructure of the city. A new road network is being planned for increasing the links between the new development on the water and Central Business District, as well as the wider Merseyside region.
With such a focus being put on the investment in Liverpool, and the appetite for more development and business growth that appears to be in place in relation to the city, it seems clear that Merseyside will continue to grow for some time, and new communities such as Liverpool Waters will only help it to thrive.