Peel’s Wirral ITC agreement signed
THE new leader of Wirral Council, Cllr Phil Davies, has signed an agreement with Chinese investors in Peel’s £200m International Trade Centre as the culmination of a 10-day mission to promote the project to investors.
The International Trade Centre, which was granted planning approval last year, is being backed by Sam Wa Minerals’ group chairman Stella Shiu, who was also present at the signing alongside Peel development director Lindsay Ashworth.
The International Trade Centre is the first project to be brought forward at Peel’s £4.5bn Wirral Waters scheme, which will be built on the opposite bank of the Mersey to its £5.5bn Liverpool Waters scheme.
Cllr Davies described the signing as “a milestone in the development of the International Trade Centre”.
He added that he had spoken to more than 100 Chinese investors “who are already demonstrating real commitment to locating in Wirral”.
He was accompanies at the signing by the leaders of both of Wirral’s main opposition parties, Cllr Jeff Green of the Conservative Party and Cllr Tom Harney of the Liberal Democrats. Mr Davies added that the agreement “will yield direct benefits for our local economy and the people of Wirral”.
Stella Shiu, chairman of Sam Wa Minerals, said: “Today is a big move forward as we have been able to demonstrate national and local Chinese government support as well as support from businesses and academics.
“The timing of this project is excellent as Chinese businesses are being encouraged to move out and invest overseas. Today’s success will make our vision a reality.”
Mr Ashworth said: “As far as the project is concerned the significance of today was not about signing the JV agreement with Sam Wa. We have developed a strong relationship over the last 4 years and this is merely the paperwork to support it.
“The real objective of the mission is about securing tenants. Today we have made a significant leap forward in delivering this project.”
So far, Peel has received Letters of Intent (the first commitment towards occupancy) from Chinese businesses that equates to around 36% of the project’s total floorspace.
