Property giant Peel Holdings has announced that it plans to create its second multi-billion pound waterside regeneration in Merseyside.
The company behind the £4.5 billion Wirral Waters scheme, being masterplanned by Broadway Malyan (Broadway Malyan reveals Britain's 'largest regeneration scheme' for Wirral
), has announced it aims to transform Liverpool's derelict docks in a £5.5 billion regeneration project.
Taken separately, each scheme would be among the biggest regeneration projects in Europe, but together the two developments, on either side of the River Mersey and with a total cost of £10 billion, will dwarf both the 2012 Olympics and the King's Cross redevelopment programme.
According to the developer, the new scheme, called Liverpool Waterfront, will see the city become 'one side of the ocean gateway to the North West' making it an 'international waterside destination to rival Dubai, Vancouver, New York and Shanghai'.
The site is said to be 1.9 million m2
, and it is not yet clear who will be designing the masterplan, although the developer is already working with Broadway Malyan on its other Merseyside scheme. However, Broadway Malyan has said that it is not involved in the Liverpool scheme but that it is looking to open a new office in the city.
Peel Holdings, which owns Liverpool's John Lennon airport and the Trafford Centre, plans to unveil the audacious scheme next Tuesday (6 March).by Richard Vaughan