Council acquires third of shopping centre site linked to town’s regeneration plans

Cavendish Walk shopping centre

Knowsley Council has acquired one third of Huyton’s Cavendish Walk shopping centre, for an undisclosed sum, in an off-market deal.

The acquisition forms part of the council’s masterplan for Huyton village centre in conjunction with appointed development partner Genr8 Kajima Regeneration.

Watling Real Estate brokered the sale, which followed the appointment as Law of Property Act Receivers of its director, Chris Walker and managing director, Andrew Foster.

Chris Walker said: “Knowsley Council has an ambitious 10-year development plan for Huyton village centre and the sale of this part of Cavendish Walk is an important piece of the jigsaw.

“We were pleased to come to an off-market agreement with Knowsley Council that enables it to take a step further along the road toward delivery its strategic vision for the village centre.”

The plan includes a new mixed-use commercial district which could include an hotel, office space anchored by the local authority, co-working centres and residential accommodation.

It is estimated the proposed redevelopment could support up to 1,700 new jobs and inject a £50m annual spending boost into the local economy.

Knowsley Council’s in-house legal team acted for the buyer and managing associate, Natalie Bromley, of law firm Addleshaw Goddard’s Manchester office, advised the receivers.

Click here to sign up to receive our new South West business news...