HM Treasury has approved £56m of investment by Homes England into the regeneration of the 26-acre Central Docks scheme at Liverpool Waters.
The funding approval, announced the Autumn Budget, will support the creation of a public park and vital infrastructure that will accommodate approximately 2,350 homes. It forms part of the government’s plans to build 1.5m new homes across the UK in the next five years.
Key infrastructure planned, which includes underground utilities, roads, pavements, public park, green spaces and public amenities, will lay the groundwork for a diverse mix of new housing – 20% of which will be affordable – in addition to commercial, community, retail and leisure facilities.
Central Docks is the largest of five neighbourhoods in the Liverpool Waters district, which is owned by Peel Waters. It extends to more than 2km along the Mersey and has outline planning permission across 150 acres.
The Central Docks neighbourhood alone is projected to attract more than £550m in private investment.
Chris Capes, development director of Liverpool Waters, said: “This is a great example of central, regional and local government working alongside the private sector to kick-start regeneration, attract inward investment and deliver much-needed new homes.
“Investment by Homes England in this infrastructure will help lever in at least 10 times the amount from the private sector, leading to the complete transformation of the Central Docks neighbourhood and the creation of an inclusive, distinctive and healthy new community.”
Steve Rotheram, mayor of the Liverpool City Region, said: “Britain is under new management and now we’re really starting to see the difference. Working hand-in-hand with government at a national, regional and local level, we can make an enormous difference and drive growth locally.
“The development of Central Docks, alongside the ongoing work to regenerate Bramley Moore and Bootle, has the potential to be a catalyst for growth and wider regeneration for great swathes of South Sefton and North Liverpool, creating jobs and attracting investment.
“The Central Docks site was identified in the Liverpool Strategic Advisory Panel’s final report as a site for potential development. The £56m we’ve received is an enormous statement of intent – on top of the £31m we secured for the city back in March this year. I’m delighted that the Treasury has given us the go-ahead for this investment, which promises to be a really significant development for our city region.”
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