Liverpool City Council has chosen to embark on a competitive procurement exercise to appoint a developer to create a masterplan for International Festival Gardens site.
The decision was made during the cabinet meeting on Tuesday in line with last week’s recommendation.
The 28-acre site, which opened in 1984, is thought to have a gross development value of between £150m and £300m. The ultimate value is dependent on subsequent planning permissions.
The council has appointed Montagu Evans to begin the initial phase of the procurement process in October this year, with a view to securing a partner towards the middle of next year.
Liam Robinson, leader of Liverpool City Council, said: “Remediation work on the site was completed at the start of the year, including a number of key infrastructure facilities installed, such as primary substation and drainage. A new 20-acre public park opened last year which is a key component of the site.
“Bringing forward this next stage of what I believe can be one of the most exciting residential projects anywhere in this country is very much about looking at how we can create that thriving, sustainable, healthy and inclusive neighbourhood, maximising its river views, maximising its parkland setting, looking at how we can have a development of all types and tenures and bringing that forward in the next few years.”
Image © Liverpool City Council
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