Liverpool City Council is poised to start a search for a development partner to transform the 28-acre International Festival Gardens site into a residential neighbourhood.
The site, which first 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.
A report to cabinet has recommended that the council embarks on a competitive procurement exercise to appoint a developer to lead on creating a masterplan for the site. If the report is given the green light, the initial phase of the procurement process, which will be overseen by Montagu Evans, will begin in October this year, with a view to securing a partner towards the middle of next year.
Remediation and enabling works were completed on site in January and, since then, a development brief has been created which will provide a framework to market the site.
Liam Robinson, leader of Liverpool City Council, said: “We’re now in a position to go out to the market and invite developers to share with us their viable vision, which will be transformative for the area and the city as a whole.”
Steve Rotheram, mayor of Liverpool City Region, said: “This isn’t just about building units; it’s about building desirable homes, where families can put down roots, where nature and urban living coexist in harmony, and where the community spirit that defines our region can thrive.”
Also see: Liverpool’s metro mayor on a renaissance in the region
Image © Liverpool City Council
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