Liverpool has “nothing to lose and everything to gain” by bringing the Pall Mall scheme forward according to a city agent.
Andrew Owen of Worthington Owen says the major project could boost employment, business rates and corporate business for Liverpool’s midweek hotel market.
In recent weeks a joint venture (JV) partnership between CTP, Kier Group’s development arm Kier Property, and Liverpool City Council was announced to deliver the £200 million mixed-use development.
Proposals for the project include 400,000 sq ft of Grade A office space along with associated leisure, retail and landscaped public realm.
Owen and Neil Kirkham of CBRE, who are currently marketing existing Liverpool Grade A office space at No 4 St Paul’s Square, say the scheme is critical to Liverpool’s economic future.
Kirkham says there’s a need for the city to be able to accommodate Grade A office requirements of more than 40,000 sq ft in order to attract new businesses.
He adds: “For a city of the stature of Liverpool to go the best part of a decade without bringing forward new product is simply not good enough.
“We know that with the right product to sell we can bring in those outside occupiers.”
Urging the city council to ensure Pall Mall goes ahead, Owen says: “We have seen elsewhere, in Chester for example, how the co-operation of the local authority can help bring new office development forward.
“More occupiers means more employment, more business rates for the city and more corporate business for the midweek hotel market. We have nothing to lose and everything to gain.”