Liverpool’s opportunity to develop a regional centre rivalling Manchester’s Trafford Park and the Bull Ring in Birmingham has been thwarted by a £27m grant towards an information technology park on the same site.
Last year Walton Group unveiled plans for a 23,225 sq m (250,000 sq ft) shopping centre at Chavasse Park in Liverpool. But according to developer’s advisor John Bywater of Donaldson’s Leeds office the site has the potential to take a first rate retail scheme of between 65,030 sq m to 69,675 sq m (700,000 sq ft and 750,000 sq ft).
But the plans have been dashed by the £27m grant from the Millennium Commission for a National Discovery Park on the site, which will include a 12m IMAX cinema.
Bywater said the Discovery and Media Park “is the second best option for the site.There are other sites in Liverpool that would take a media park, but this is the only site that could take a major retail development. Liverpool has lost the opportunity to develop a retail scheme to rival Peel Holdings’ Trafford Park and Hammerson’s Bull Ring.”
However Bill Davies, owner of the Walton Group, is prepared to seek a compromise with his rival: “The Dean needs private sector funding in particular for the media park. He would like us as his partner. That’s fine provided it makes commercial sense.”
Even if it means reducing the size of the retail scheme, Davies is committed to going ahead. Walton Group already has the £165m funding in place needed to finance the development; it has secured three anchor tenants including House of Fraser and Debenhams; and Davies is going ahead with negotiations to acquire an additional piece of land adjoining his site.
EGi News 20/02/97
