Liverpool to launch plans for business district expansion

Plans are being drawn-up for a massive expansion of Liverpool’s business district.A report to city council’s cabinet on Friday will recommend a Spatial Regeneration Framework (SRF) be drafted seeking to develop the district and potentially connect it to the development of Princes Dock in the £5.5bn Liverpool Waters scheme.The business district, which covers 40 acres at the northern fringe of the city centre, predominantly consists of offices.It saw office take-up up rise by 16% in 2016 but vacant office stock continues to fall and now stands at just 958,083 sq ft with only 330,438 sq ft ready to occupy.To address the shortage the city council is seeking to support a £200m plan to develop a scheme in Pall Mall, with Kier Property, that will provide 400,000 sq ft of new Grade A office space.The council is also investing £100m in new road infrastructure at the northern fringe of the district and has recently submitted a planning application to create a new cruise terminal at Princes Dock.Following cabinet approval a brief will be put to the market in the summer with consultation to follow in the autumn, before a final SRF is submitted in early 2019.The city council has recently followed a similar process to masterplan for the Ten Streets Creativity District, Knowledge Quarter Gateway and Baltic Triangle.