ERDF backs Capital & Centric’s Tithebarn St scheme
MANCHESTER developer Capital & Centric has secured more European cash, this time for a speculative office scheme in Liverpool.
The European Regional Development Fund (ERDF) is committing £2.4m to its £6m plan to renovate the former Churchill House in Tithebarn Street.
It wants to turn the empty block into 40,000 sq ft for small businesses.
Last month the ERDF committed £1.1m towards its £4m conversion of a former storage building at the old Littlewoods building on Edge Lane in Liverpool. It represents the first phase of a wider £20m plan that will see the main art deco building brought back into use as a hotel and commercial space.
Tim Heatley, co-founder of Capital & Centric said: “Signing this agreement is the last big bit of the jigsaw that we needed in order to get cracking with construction. This innovative approach to funding, design and development means we can continue to develop speculatively, avoid having any bank debt and deliver great looking buildings.”
Liverpool Mayor Joe Anderson said: “It’s great news that No 12 Tithebarn Street is being brought back to life. This development will provide invaluable support to the SME’s which are so important to the economic future of our city.
“It’s refreshing to see a traditional city landmark being rejuvenated by innovative and creative design, alongside cutting-edge energy efficiency. I’m looking forward to the building becoming a focal point for Liverpool businesses.”
Work is due to start once detailed planning permission is received.
