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Liverpool Development Update - 2017

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Liverpool Development Update - 2017 LIVERPOOL DEVELOPMENT UPDATE - 2017 Welcome Welcome to the annual edition of the Liverpool Development Update which I hope you will find informative and useful. I also hope that you, like me, will be delighted to see that the levels of investment in our city continue to top £1 billion per annum. Since I came into office in 2012, we have seen over £4 billion invested in new houses, roads, offices and hotels. Most satisfyingly, we have delivered on creating the 12 new schools I promised, supported the building of over 5,000 new homes and, arguably more importantly, brought an unprecedented 5,000 empty homes back into use. Our city is creating jobs and attracting people to make Liverpool their home. As well as creating affordable homes with our public sector partners, the rate of private sector homebuilding is accelerating. Liverpool is attracting interest from several investors seeking to build luxury Private Rented Sector homes in our city centre – many of which will be in the Princes Dock and Fabric District areas. Crucially, there is also high demand for aspirational 3 and 4 bedroomed homes in our attractive neighbourhoods. This regeneration drive includes how we continue to attract businesses. The announcement that HMRC are to move 3,500 staff to the India Buildings, and the choice of Kings Waterfront for 1,500 call centre staff in a new office block by YPG Developments, in association with The Contact Company, shows how attractive the city is to investors and developers. But more can be done. And is being done. With our city’s stock of Grade A office floorspace dwindling, we are working with partners CTP and Kier Property to build 400,000 sq ft at Pall Mall Exchange that will provide enough space for a further 3,000 jobs. Many retail jobs have also been created now that Derwent’s Liverpool Shopping Park has recently opened and more are to follow with Project Jennifer’s new district centre nearing completion. Other long term schemes are also seeing success: Lime Street Gateway (on site), FRONT COVER: Ellergreen – the redevelopment of the former Boot Estate in Norris Green (completed) whilst plans for the Welsh Streets are being implemented. 1 Despite wider economic uncertainties the fact is, confidence in Liverpool is booming. There are currently over 270 major new projects planned, 2 3 with £14 billion worth of schemes in the pipeline. Indeed, the work we are doing with partners to develop the new £1 billion Paddington Village 1. PROPOSED: ROYAL COLLEGE OF in the Knowledge Quarter and the Ten Streets Creative District will PHYSICIANS AT PADDINGTON redefine Liverpool’s economy over the next 30 years. VILLAGE 2. ON SITE: THE WELSH STREETS So, in essence this document is a snapshot of a new Liverpool. An 3. PROPOSED: TEN STREETS ambitious Liverpool. A Liverpool fit for the 21st century. Enjoy the read! Joe Anderson, OBE Mayor of Liverpool Contents Development Overview – Citywide 1 Development Overview: City Centre 2 City Centre: Offices 3 City Centre: Retail 4 City Centre: Leisure & Culture 5 City Centre: Hotels 6 City Centre: Knowledge Quarter 7 City Centre: Residential 8 City Centre Development Schedule 9 Development Overview: Outside the City Centre 23 Neighbourhoods: Industry & Warehousing 25 Neighbourhoods: Retail & Leisure 26 Neighbourhoods: Schools 27 Neighbourhoods: Health 27 Neighbourhoods: Residential 28 North Liverpool Mayoral Development Zone 31 Stonebridge Cross Mayoral Development Zone 35 Central Liverpool Mayoral Development Zone 37 South Liverpool Mayoral Development Zone 39 Development Overview: City-wide CITY-WIDE DEVELOPMENT ACTIVITY OVERVIEW: KEY FACTS AT A GLANCE: • Value of major schemes completed in the whole City of Liverpool since January 2012: £4.60 billion • Value of major schemes completed in Liverpool since January 2017: £527 million ON SITE: WOLSTENHOLME SQUARE, DUE TO COMPLETE IN 2018. DEVELOPER WOLSTENHOLME SQUARE DEVELOPMENTS HAS NOW SUBMITTED PROPOSALS • Number of potential new/safeguarded FTE FOR A £36 MILLION EXTENSION TO BUILD AN ADDITIONAL 11 STOREY BLOCK equivalent job spaces created by city- WITH 200 LUXURY APARTMENTS, SPA AND SWIMMING POOL. wide developments completed since January 2017: 2,080 INVESTMENT LEVELS SUSTAINED TO • Actual construction value of major MATCH PREVIOUS YEARS schemes currently on site city-wide: Construction activity across Liverpool has continued to £1.4 billion. achieve over £1 billion each year. At present the city • Number of potential new/safeguarded FTE has some £1.4 billion worth of development activity on site, with some £634 million of this taking place outside job spaces that will be created by new of the City Centre. developments that are currently on site: 2,680 Investment in the health sector continues to be high, despite construction on the Royal Liverpool University Hospital coming Breakdown of development values by to a close next spring and with only some £40 million of its £335 activity currently on site, Liverpool city-wide million cost still to complete (plus a further £90m+ for as at September 2017 (£m) demolition of the existing facility). The figure has been boosted by the start of the Clatterbridge Cancer Centre next door to it. 11 As the amount of construction activity in the education sector 52 winds down following completion of the last of the twelve 320 122 schools and the £68 million Materials Innovation Factory that opened at the start of this year, investment in public sector infrastructure is rising. Network Rail are investing £145 million in 131 expanding capacity of Lime Street Station in a two-phased operation taking place this autumn and later next year. In addition, Liverpool City Council is investing in highway 18 improvements including the dualling of Great Howard Street to 57 improve efficiency and safety along one of the main arterial 28 routes into the city from the north, and to prepare for Liverpool Waters, the first of whose schemes have now started to come 481 in for detailed planning approval. 192 Investment in building new homes still dominates the values of current activity, with some £481 million worth of homes being either built or refurbished, whilst some £320 million worth of INDUSTRIAL student accommodation remains on site. OFFICES Developments for future years are in the pipeline, with several RETAIL/DISTRICT CENTRES key announcements having been made during the last year HEALTH CENTRES & HOSPITALS concerning such projects as a new cruise liner terminal, a EDUCATION (SCHOOLS, COLLEGES, UNIVERSITIES) possible new football stadium for Everton Football Club at Bramley Moore Dock, a new creative district at Ten Streets, HOTELS new plans for the Welsh Streets, Paddington Village, leisure OTHER MAJOR LEISURE ATTRACTIONS developments at Kings Dock, and redevelopment and restoration at the former Garden Festival site now known as PUBLIC SECTOR INC INFRASTRUCTURE Festival Park. HOUSING (NON-STUDENT) STUDENT ACCOMMODATION 1 Development Overview: City Centre CITY CENTRE DEVELOPMENT ACTIVITY OVERVIEW: KEY FACTS AT A GLANCE: Value of major schemes completed in the City Centre since January 2012: £2.05 billion Number of potential new FTE jobs created or safeguarded in the City Centre by developments PROPOSED: THE £35 MILLION ROYAL COLLEGE OF PHYSICIANS, PART OF THE completed since January 2012 NEW £1 BILLION PADDINGTON VILLAGE CAMPUS. (when let and filled to capacity): 11,486 CITY CENTRE DEVELOPMENT HOTSPOTS Value of major schemes completed in the City Centre since January 2017: BECOMING APPARENT £314 million Several key development hotspots are now emerging in the City Centre. The Fabric District area known as Islington is seeing Number of potential new FTE jobs developer interest focussing on residential accommodation created or safeguarded in the City along this northern edge of the centre which has been Centre by developments neglected for so long. The Council is encouraging this new focus of activity as long as it makes space for businesses at completed since January 2017 ground floor level to maintain the area’s reputation for out-of- (when let and filled to capacity): centre retail linked primarily to furniture warehousing, 2,120 haberdashery and crafts. A similar approach is being taken in the Baltic Triangle where a Actual construction value of major strong existing business community specialising in digital and schemes currently on site across the other creatives continues to need space to grow. A strategic City Centre: £763 million. framework for the Baltic area has been produced. Individual planning applications have now begun to arrive for the various buildings that will form part of Paddington Village next to the Health Campus in the Knowledge Quarter Mayoral Development Zone. The first projects totalling over £122 million will include the Royal College of Physicians, Liverpool International College, and the Rutherford Cancer Centre North (818) 399 West. £12 million worth of infrastructure works will be (713) undertaken before development begins in order to prepare the 573 site. 600 (518) 550 204 500 503 460 453 400 419 300 £ millions 312 321 314 270 267 233 200 223 140 135 100 100 0 2008 200 9 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Major Development Schemes in Liverpool City Centre since 2008 COMPLETED SCHEME VALUES LIVERPOOL ONE COMPLETED SCHEME VALUES EXPECTED COMPLETION YEAR AND VALUES OF SCHEMES CURRENTLY ON SITE EXPECTED COMPLETION YEAR AND VALUES OF UNSTARTED SCHEMES AS SUGGESTED BY DEVELOPERS 2 City Centre: Offices The last twelve months to September 2017 has seen £20 million invested in Liverpool City Centre’s office stock, with £15 million of that being the new Sensor City in the Knowledge Quarter which provided 27,000 square feet when completed in June 2017. The remaining £5 million included some 13,000 square feet of space being created at 20 Chapel Street for law firm Goldsmith Williams to relocate 165 staff; and a refurbishment of several floors of Yorkshire House next door to it that has attracted new tenants including Prime Site Developments, Aspect Software and UK Law Nationwide.
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