Liverpool Council buys stalled Chinatown development site
Liverpool City Council has completed its £10m acquisition of a stalled 4.5-acre development site in the city centre.
The deal was backed by the funding from the Ministry of Housing, Communities and Local Government and Liverpool City Region Combined Authority.
The brownfield plot sits on the Great George Street, the gateway to the Chinatown. The development was started by North Point Global but stalled in 2017 due to a series of complex legal challenges on leaseholds. The scheme was sold to Great George Street Project in 2018, which fell into administration in February 2022.
Liverpool City Council has completed its £10m acquisition of a stalled 4.5-acre development site in the city centre.
The deal was backed by the funding from the Ministry of Housing, Communities and Local Government and Liverpool City Region Combined Authority.
The brownfield plot sits on the Great George Street, the gateway to the Chinatown. The development was started by North Point Global but stalled in 2017 due to a series of complex legal challenges on leaseholds. The scheme was sold to Great George Street Project in 2018, which fell into administration in February 2022.
Since then, the council has been in talks with administrators Cowgills and Farleys Solicitors to finalise the acquisition. The deal formally closed on Friday after receiving high court approval last month.
The council is now working up proposals for the site that will lead to regeneration in the wider Chinatown area.
Nick Small, cabinet member for growth and economy at Liverpool City Council, said: “Its proximity to the Baltic Triangle, which is undergoing huge change, with plans afoot to radically upgrade the transport infrastructure there, means the future development of the Great George Street site is of critical importance to the city.”
Steve Rotheram, mayor of the Liverpool City Region, said: “We are now in a position to crack on with bringing new homes and jobs to the area, creating genuine opportunities for local people.”
Image from Liverpool City Council
