There is a shortage of premium-quality office space in Liverpool. To address this issue, Liverpool City Council has agreed to accept a government investment of £15 million to restart the stalled Pall Mall development scheme in the city centre.
The investment is a response to a Strategic Futures report that identified potential investments to boost the Liverpool economy.
The £15 million investment will help developer Kier Property to complete phase one of a £55 million scheme to build an eight-story 111,000 sq ft grade A office block, retail units and a new urban park on the Pall Mall site, which is currently empty. The first phase of the development already has planning permission.
The development will be the first Grade A office development in the city centre business district for 13 years. A later phase will add 230,000 sq ft of office space and a hotel.
The site for the development once included the popular Bixteth Street Gardens. There were strong objections when the area was fenced off in 2019. The site has remained dormant since then, with no development work started.
Liverpool City Council’s Cabinet member for Growth and Development, Nick Small, said that the Pall Mall development will hopefully lead to the regeneration of Liverpool’s business district. He added that the lack of office development in recent years has damaged investment confidence in Liverpool.
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