£15m Investment to create 900 jobs

8
Jul

Steve Rotherham, Mayor of Liverpool City Region has announced a £15.5m loan expected to create 900 jobs. These jobs come from the planned transformation of the former Halewood International HQ in Huyton.

Formally, a 44,000 sqm Sovereign Distillery site was left unoccupied as Halewood International opted out of the previous HQ, but under a new plan, Network Space has acquired the site. The company plans to create a multi-let industrial estate aimed at light industrial, logistics and SME occupiers.

Combined Authority has set funding for this undertaking and has allocated the project a £6.75m loan, courtesy of the Liverpool City Region Urban Development Fund (UDF) and £8.7mfrom the Chrysalis Fund, which is managed on behalf of the Combined Authority by igloo Investment Management.

Rotherham expressed the importance of investing in the region, “Devolution is all about making sure that important decisions affect our region are taken locally by people who live in and understand the needs of our area. It means we can ensure that every pound we spend goes toward projects that will make a tangible difference to the lives of the 1.6 million people who call it home.” He continued, explaining how the decision will support the community, “Investing in a project like this, which will create almost 1,000jobs for local people and bring this site back into use, really is a no brainer. It will give a big boost to Knowsley and the wider city region economy, and the returns it will generate means that we’ll be able to reap the rewards and reinvest in new projects.

An estimated 2000 tonnes of carbon will be saved by creating the new industrial site, partly through demolition, and partly through refurbishment and the use of new building strategy. However, using sustainable construction methods can be a complicated process, especially in conjunction with the adoption of new carbon initiatives such as implementing EV charging, solar panels and low energy lighting.

The sentiment is shared by Dan Adamson, Finance Director for Network Space, who further details the plans of creating an energy efficient site, “This is a strategically important site. Repurposing existing buildings, alongside the delivery of new, energy efficient units, is a complex process so it was important for Network Space to work with a funder which understands and supports what we’re trying to achieve.

Planning for Phase 1 of the development has been submitted for review, which is due to be determined in the next couple months, with Phase2 expected to be submitted within early 2023.

The news for this low carbon construction falls in line with Liverpool’s plans of creating a sustainable city region that separates itself as an innovation leader within the North West. This will benefit the economy and surrounding communities, as well as provide an environment suitable for investors looking to purchase property within the region.

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