Council plans to fund HMRC apartment scheme
LIVERPOOL City Council is planning to offer loan finance to a developer that wants to turn the HM Revenue & Customs building at Liverpool’s Queen’s Dock into 240 apartments.
An application by landlord Mapeley Steps and Altrincham-based Glenbrook Property to convert the office was approved by the council’s planning committee in April.
The council said it was in talks with Altrincham-based Glenbrook over providing a loan, although the size of the deal was not given and press and public was excluded from a cabinet meeting last week when it was discussed. Any decision is subject to legal clearance and will be scrutinised by the district auditor.
HMRC moved out of the building in September, with staff redeployed to other offices in the city. The buildings were built for the government department in 1991 and designed to house 1,800 staff.
The council said the deal would breathe new life into the building and contribute to the on-going regeneration of the waterfront where a new exhibition centre and hotel is being built on an adjoining site.
Mayor of Liverpool Joe Anderson said: “This is a strategic investment opportunity which has the potential to bring a major waterfront building back into use and deliver much-need new homes. It would also provide continued momentum for the regeneration of the Kings Waterfront, which is being transformed through the delivery of a world class Exhibition Centre and which is set to be further revitalised through the Kings Dock Master Plan.
“At a time of inertia in the economy, it’s vital that we work creatively with the private sector. These proposals are the latest example of how we are seeking to use our borrowing power and target our resources effectively to help kick-start development and invest in assets that bring in new income streams for the council.
“We will be making sure we receive all the appropriate legal and financial advice to commence the deal so we are satisfied that we are getting value for money and the proposals will also be scrutinised by a council select committee.”
Glenbrook was incorporated in 2011 and is owned by Ian Sherry.
