International law firm, Trowers & Hamlins, has advised Liverpool City Council on the acquisition of a 4.5 acre brownfield site on Great George Street, Liverpool.
Located near the city's historic Chinatown, the site had previously been earmarked for a residential-led, mixed use scheme until it stalled in 2017. Liverpool City Council completed the purchase of the site out of administration on 29 November after the High Court approved the sale.
The Ministry of Housing, Communities and Local Government (MHCLG) and Liverpool City Region Combined Authority (LCRCA) supported the City Council with an allocation of £10million funding to complete the purchase and bring forward development options for the site. Liverpool City Council will now draw up proposals for the site that will look to support regeneration across the wider Chinatown area.
Trowers acted for Liverpool City Council in acquiring the site and had to gain a special court order for the sale from the administrators.
The Trowers team was led by Partner Louise Robinson.
Louise commented:
"We are delighted to have advised on this significant acquisition, which marks a pivotal moment for Liverpool's regeneration journey. Unlocking the potential of stalled sites like Great George helps pave the way for the development of a new vibrant urban area that will be a great addition to the local community."
Councillor Nick Small, Liverpool City Council’s Cabinet Member for Growth and Economy, said:
"The acquisition of the stalled Great George Street development is a hugely significant step in resetting the story of this major gateway site.
"It’s proximity to the Baltic Triangle, which is undergoing huge change with plans afoot to radically upgrade the transport infrastructure there, means the future development of the Great George Street site is of critical importance to the City."
