£2.65m from combined authority to help create 300 jobs across three sites

Construction is now under way at three development sites across the Liverpool City Region following an investment of £2.65m from the Liverpool City Region Combined Authority’s Light Industrial Fund.

It is estimated they will help create more than 300 jobs.

Launched in March 2019, the Light Industrial Fund is supported by the Local Growth Fund and was created to support speculative light industrial development within the Liverpool City Region to accommodate the needs of businesses that require modern commercial floorspace to expand and grow.

The Fund is designed both to retain ambitious indigenous SMEs, looking to expand, and to attract new inward investment opportunities into the region.

Following a rigorous due diligence process, funding of £2.65m was approved for three projects, all of which demonstrate high standards of environmental quality, through very good BREEAM ratings, and a commitment to deliver social value through measures such as supporting the local supply chain.

The three projects are:

• Magazine Point, Bromborough – Developed by Redsun Developments, within the established industrial and commercial area of Bromborough, Wirral, this development of 55,000 sq ft is under way and due for completion early 2021. The site will deliver three units, one of which already has confirmed occupation.
• Image Park, Knowsley Industrial Estate – Within the successful Image Park development owned by Seybourne Estates, demolition work is now under way on the former Kodak premises to develop the next phase. The proposed redevelopment will provide 65,000 sq ft on this well-established industrial estate within Knowsley.
• Gerards Park Phase II, St Helens – Well-established developer and owner, Northern Trust, having developed and fully let the adjacent Phase I park, has now started work to develop the second and adjacent phase extending to 35,600 sq ft, targeted at smaller business units. The completed units will be ready for occupation in Autumn 2021.

Steve Rotheram, Metro Mayor of the Liverpool City Region, said: “We’ve invested £2.65m to develop these sites right across our city region to ensure that we’re able to offer outstanding facilities that will keep attracting new businesses and jobs to the area, which is really important given the impact of COVID.

“Taken together, these sites are expected to create more than three hundred local jobs.

“It’s fantastic to hear that some of the sites already have businesses signing up to take space – I’m sure it won’t be long before others follow.”

Minister for Regional Growth and Local Government, Luke Hall, said: “It’s fantastic to see that our £2m Local Growth Fund investment is supporting projects right across Liverpool City Region.

“These initiatives will help support the city’s thriving community of SMEs, creating over 300 high-quality jobs and attracting further investment.

“We are levelling-up opportunities across the country by supporting local business to grow and prosper.”

Nick Wightman, director, Redsun Projects, said: “The award of funding from the combined authority has been essential in kick-starting this development in the middle of a very uncertain time for the market. Construction has progressed really well and we look forward to welcoming occupiers to the completed units early next year.”

Peter Taylor, Seybourne Estates, said: “We are very pleased to have the support of the combined authority for the next phase of our redevelopment of Image Business Park, the ex-Kodak site.

“Demolition of derelict buildings has now started for building work to commence in 2021. This is all part of Seybourne’s plan to build a total new-build of 170,000 sq ft over the next two years following the completion of a £7.5m state-of-the-art new-build 60,000 sq ft factory for Contenur who are now carrying out their fit-out prior to starting production in the New Year.”

Mike Grindrod, director at Northern Trust, said: “We are pleased to be working with the Liverpool City Region Combined Authority in bringing forward this strategic development.

“Given the current uncertainty in the economic climate, we feel it’s an important time for us to invest in creating flexible business space which will, in turn, generate job opportunities for the local economy.”

All three Light Industrial Fund projects are supported through Local Growth Funding, which is awarded to the Liverpool City Region Local Enterprise Partnership (LEP) and invested through the Liverpool City Region Combined Authority’s Strategic Investment Fund.