Nikal and Media Invest Entertainment have signed up the Universities Superannuation Scheme to fund works for a 1,306-space multi-storey car park, the first phase of their £300m Blackpool Central leisure scheme.
As part of the deal with the pension fund, the value of which was not disclosed, Blackpool Council has agreed an underlease of the car park and will operate the car park once built.
Nikal has appointed construction and development company Ballast Nedam to build the car park, with construction expected to start in early 2022. It will take around 16 months to complete.
Richard Fee, chief executive of Nikal, said: “This is an important step forward and builds momentum behind Blackpool Central. We look forward to breaking ground on this crucial first phase, which will kickstart one of the UK’s most important regeneration projects.”
Outline plans for the scheme were approved by Blackpool Council last year. The redevelopment will include a new hotel, indoor entertainment centres, bars and restaurants.
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