Scarborough Developments is planning more schemes in Liverpool following the prelet of its City Square office to the Department for Constitutional Affairs (DCA).
Around 100,000 sq ft of the 142,000 sq ft (12,000 sq m) City Square was taken by the DCA (the former Lord Chancellor’s Department) for law courts shortly before Christmas.
Mark Finlay, director of Scarborough, said: “We are actively looking at opportunities for joint ventures and partnership arrangements in the city centre.”
Finlay added any future schemes would be on “at least the same scale” as City Square, but possibly include a mixture of uses. He refused to discuss the names of potential joint venture partners.
Work on site at City Square, a joint venture with Shepherd Construction, has started and is set for completion next year.
Meanwhile, a review of public funding for City Square is expected to result in a demand for the developer to hand back most of the £5.8m awarded to it by the North West Development Agency and the European Objective One programme.
The money was awarded last year on the condition work started on a speculative development but the prelet will disqualify the scheme.
Lettings agents on City Square are Mason Owen and CB Richard Ellis.
References: EGi News 03/02/04
