Construction work on one of Liverpool’s transformational development projects has begun. Developers, North Point Global, have started work on the £200 million project which will transform Europe’s oldest Chinese community, creating 850 new homes, 150,000 sq ft of new commercial and retail space and a new hotel.
North Point Global Chair, David Choules, commented:
“Following completion of the site acquisition, I am delighted to announce that work on this exciting scheme is now underway. Our phase 1 contractors, BILT Group, and Scottish Power are on site working on site excavation and service provision. We’re looking forward to progressing above-ground development and it will be great to see the first phase of the project taking shape over the next few months.”
Phase 1 is due for completion before the end of next year, with the whole scheme scheduled for completion in 2019.
One of the project’s many unique elements is the proposed Chinese retail and commercial hub, accommodating Chinese-based businesses and retail outlets. There is already very strong interest from China in the scheme’s commercial space with a significant number of units already purchased by businesses seeking a foothold in the UK.
David Choules added:
“From the outset we wanted this scheme to be an authentic Chinese development that brought new commercial energy and entrepreneurialism into the heart of an historic Chinatown. This is not only something unique in the UK, it will be something unique outside China itself.”
North Point’s Chinese sales and investment partners are excited by the project’s appeal to investors and business occupiers. Charis Chan from Hong Kong Homes commented;
“This project has really caught the imagination of investors. The commercial units are an extremely popular opportunity for Chinese businesses seeking a foothold in the UK. This will be a development with a unique offer and character.”
Lead architect Antonio Garcia, MD of BLOK Architecture, believes the project will be the catalyst for the expansion of Liverpool City and will accelerate other major projects in the area;
Antonio explained, “Now we are on site it will hopefully give an impetus to neighbouring projects in the Baltic as well as the Brewery Village and St James Heritage Quarter developments. The city centre is moving south and that is why the potential re-opening of the St James station would have such a positive impact. There is so much exciting potential and we are delighted to be kick-starting it with work now commencing on New Chinatown.”
