Wirral Growth Company initiative launched Back
First announced at international property conference MIPIM earlier this year, the Wirral Growth Company will now officially go to market seeking an investment partner for a potential £1bn development programme.
Council leader Phil Davies says there has already been interest from major global developers and he is confident that residents will see ‘spades in the ground’ on new schemes within the next twelve months.
Cllr Davies said: “Following the recent successes of Liverpool and Manchester, I am proud to be putting Wirral forward as the next great Northern regeneration opportunity.
“Only a few months ago we went to the world’s largest property and development conference to introduce Wirral to the globe’s biggest investors and developers. We shared our vision for £1bn worth of development opportunities but we also knew we needed to put a modern, commercially viable organisation in place to help us deliver our goal.
The Wirral Growth Company is that organisation and next week I will be asking my Cabinet to approve the business case which will allow us to formally find the investor partner who will turn our plans into the bricks and mortar developments, jobs and economic growth we all want for Wirral.
“We will start the competition at the end of this month, inviting developers and investors to submit their ideas and proposals, and we will be in a position to sign up with our new partner by the end of the year.
“Residents will see spades in the ground on new construction developments in the borough by early 2018.”
The council is putting in land and other assets into the growth company and the successful partner will be expected to match this commitment with capital and other resources to quickly drive regeneration projects at key sites throughout the borough.
Key opportunities include:
- The waterfront area around the Woodside Ferry Terminal in Birkenhead, overlooking the Liverpool Skyline
- Transforming Birkenhead town centre with new retail, leisure and civic developments
- Building on the success of New Brighton with more residential and commercial developments
- Revitalising communities such as Moreton, Bebington and Seacombe with a mixture of residential, commercial and leisure projects
Cllr Davies added: “These schemes will create communities and places people want to live and work in, and developers will invest in. It is about having big ambitions.
“We have got the investors interested, we have got the vision and ambition and, setting up the growth company, we will have the organisation to actually delivers."
Local architects, developers and urban planners have already contributed ideas as to what Wirral could look like in the future. Images and more information about the Wirral Growth Company is available now at the Wirral Well Made website.