The new Liverpool Shopping Park is expected to have a “huge, huge impact” on the city when it completes late next year.
Speaking to Move Commercial on day one of the MIPIM UK showcase in London, developer Derwent Group’s group chief executive, David Lyons says: “It’ll be a catalyst for redevelopment because we’re changing Liverpool, we’re changing the area, we’re changing the catchment.
“I think house values will even go up in the area when we’re finished because it’ll be a huge, huge impact.”
Commenting on the day Liverpool City Council chief executive Ged Fitzgerald and Knowlege Quarter chief Colin Sinclair highlighted a number of the city’s prominent projects and opportunities in a panel discussion, Lyons insists now is the right time for this long awaited transformation of the route into Liverpool.
“I guess everything has its day. It was important that Liverpool ONE got off the ground and was a success, so we’re no longer a threat to the city centre.
“It’s a different catchment, a different customer and there are 60,000 cars a day going by this site. It’s not going to affect Liverpool city centre and if anything it would regionally be enhancing.”
The Derwent Group recently unveiled a 3D video showing how the scheme will look once completed, and new leisure and retail signings for the site are expected to be announced in the coming weeks.
The retail and leisure park, which is on of the biggest developments of its kind in the UK, is also expected to generate “north of £4 million a year” for charity as the Albert Gubay Charitable Foundation, which now owns The Derwent Group, donates half of its profits each year.