London Clubs, Aspinalls and Grosvenor Casinos are bidding to operate a casino at the Duke of Westminster’s £700m Paradise Street development in Liverpool.
Grosvenor’s retail-led scheme will have 230,000 sq ft of leisure, of which 60,000 sq ft could be a casino. The company’s head of retail letting, Claire Cooper, confirmed the company was considering a casino at the site.
Grosvenor finally secured funding for the scheme last week. Five international investors will join it to form the £255m Grosvenor Liverpool Fund: fund manager Hermes; private Middle Eastern clients of Arlington Property Investors; a member of the Ryan family, which founded Ryanair; UK institution Liverpool Victoria; and Redevco, the property company owned by the Dutch founders of C&A.
A £400m debt package has been arranged with Royal Bank of Scotland, Barclays, HSBC and Eurohypo.
John Lewis and Debenhams have signed up to anchor the 1.6m sq ft of retail, while hairdresser Herbert of Liverpool is taking most of a 16,000 sq ft building, now called the Herbert Building, at the corner of Hanover Street and College Lane for a salon and training academy.
References: EGi News 29/11/04
