Developer of £200m New Chinatown looking to offload scheme
North Point Global, the developer behind the £200m New Chinatown Scheme in Liverpool, is planning to sell the scheme.
It says negotiations are under way with Your Housing Group, with construction work on site at a virtual standstill with North Point Global seeking an alternative to Bilt Group as its main contractor.
North Point Global Group director A J Marriott said told Construction Enquirer: “There have been ongoing sale negotiations with Your Housing Group in relation to the New Chinatown development in Liverpool which are continuing at the present time, however no binding Agreement has been entered into with them.
“Chinatown Developments have received significant interest from various parties around the world over the availability of the New Chinatown site on a purchase or joint venture basis and will consider these in due course.
“Furthermore Chinatown Developments are looking at a detailed planning application for phases two and three of the site to take advantage of the enormous popularity of phase one which is already underway.”
The New Chinatown project was identified by the Government as one of the key projects within the Northern Powerhouse initiative, and the scheme was presented to the Chinese Premier’s delegation during his visit to Manchester in 2015.
The scheme is being backed by both North Point’s established Chinese investment partners and the UKTI’s Regeneration Investment Organisation.
The development aims to create a new kind of Chinatown that captures the energy and intensity of modern China, and creates a hub for Chinese businesses and retailers anxious for a foothold in the UK.
