Property developer Sigma Capital has launched a £39m regeneration scheme in Liverpool city centre after securing funding for the project.
The development close to Lime Street Station, in the heart of the city centre, will feature 28,000 sq ft of retail and leisure units, including a 101-bedroom hotel, which is pre-let to Premier Inn, and a 412 bedroom student accommodation building.
Having already obtained planning consent last year, Sigma’s commercial development partner, Neptune Developments, is due to start construction before the end of the year.
Sigma chief executive Graham Barnet said: “The scheme forms part of the regeneration of the Lime Street and Knowledge Quarter areas, a project which is seen as a flagship development for the City.
“Together with our partner, Neptune Developments, we are delighted to help realise another objective in Liverpool City Council's broader regeneration aims.”
Steve Parry, managing director of Neptune Developments, said that his firm is looking forward to creating what he described as a “vibrant new neighbourhood in Liverpool” which will undoubtedly present fresh investment opportunities for property investors investing in and around the area.
He commented: “We are aiming to bring exciting new retail and leisure operators to the area and we are already making good progress in negotiations with a number of parties.”
“We are very pleased to commence the redevelopment of the area around Lime Street Station. The scheme forms the first phase of our Knowledge Quarter project and will have a major impact on the gateway to Liverpool City Centre.
“We are aiming to bring exciting new retail and leisure operators to the area and we are already making good progress in negotiations with a number of parties.”