£750 million Paradise St Development

[Kev]

The Biggest RETAIL development in Europe!

That's the Grovenor development folks!!!!

A bit of info...

The Grosvenor development is expected to be well on its way to creating 1m sq ft of retail space.

Department store John Lewis is already confirmed as a key tenant of a 230,000 sq ft building at the southern end of Paradise Street.

A second anchor store of 180,000 sq ft, which is expected to be taken by Debenhams, will be on Lord Street opposite the junction with South John Street.

£750million!!

[Kev]

DEBENHAMS is due to open a flagship store on the opposite corner of Chavasse Park to John Lewis. Between the stores will be a large development including a multiplex cinema.

A 2 level shopping street, SOUTH JOHN STREET, will run through the development and open into a terraced area of the car park.

A new building opposite to the Police Head quarters will be a hotel or luxury flats (makes a change ). The buildings on 3 sides of the park will be a 'ellipse against the sky', whatever that means.

[LV]

Should look good when it is finished.

[Kev]

Some more good news!!!

(Source- the Liverpool Echo)


THE Duke of Westminster's £700m project to revitalise a major part of Liverpool city centre is already oversubscribed, months before work gets under way.

And it emerged last night that all the funding for the spectacular Grosvenor project to make Liverpool one of Britain's most desirable shopping destinations is now in place.

More than 100 of the retailers scrambling for space in the Paradise Street development will have to be turned away.

Around 157 units are earmarked for the scheme as shops, restaurants or café bars - excluding the three anchor stores - as part of the one million sq ft development.

However, more than 250 potential tenants are already in the queue, with the number growing weekly as excitement builds up in what will be the biggest shopping project Europe has seen this century.

These do not include the John Lewis Partnership and Debenhams who have already signed up for anchor stores of 240,000 sq ft and 180,000 sq ft respectively, or the proposed third anchor, a 55,000 sq ft designer store.

Grosvenor's project director for the scheme, Rod Holmes, said: "We are delighted with the interest in retail units. With the serious expressions of interest, we will not be able to accommodate everybody.

"But I am sure that, with other schemes in and around the centre of Liverpool, there will be space for those who want to move in. It is a tremendous situation to be in from Liverpool's point of view because it demonstrates the emerging vibrancy."

Grosvenor was given even more encouragement with an announcement that a funding package for the whole project is now in place.

Four of the big banks have agreed to partly bankroll the scheme by covering £400m of debt. The Royal Bank of Scotland and HSBC have both agreed to £125m, with Barclays and Eurohypo each covering £75m.

Grosvenor itself and a team of equity partners are putting up the remaining money of almost £300m.

Liverpool City Council's chief executive, David Henshaw, yesterday told a conference of people involved in the project to hold their nerve.

"There has been a tendency in this city in the past to see the glass as half empty. Here in the city we are now in a position to see the largest development taking place anywhere in Europe.

"The prize is huge and we have to hold our nerve. I remain full of optimism about the scheme which will be an astonishing exercise in the re-emergence of Liverpool. When this scheme is completed in 2008, it will take people's breath away."

Economic analysts have told Grosvenor that the potential catchment area for the scheme has a population of 2m, the eighth largest in the UK.

But before any units are allocated the company will first negotiate new homes for a number of existing traders who will be displaced by the development.

These include Argos, currently in Paradise Street, HMV and Arcadia, who run shops in Church Street.

Part of the plan will see a new link square between Church Street and School Lane to open up Paradise Street.

Around 150 people - contractors, professionals, builders and city council officials - attended the first briefing conference at Liverpool Fact Centre, in Wood Street.

Grosvenor's chief executive, Stephen Musgrave, said the 42-acre Paradise Street scheme was one of the most exciting and ambitious ever undertaken by the group.

Project director Mr Holmes said the group hoped to increase the number of residential units from the proposed 364 to help quench a growing thirst for city living.

Liverpool had the most densely populated city centre outside London, he added.

Grosvenor is to open an office in Lord Street which will become the nerve centre for the project. The company has lined up Laing O'Rourke as prospective project managers for the whole scheme.

Work will start in October, with the scheme virtually completed by March 2008. It is possible some businesses will be ready to open by Christmas, 2007.

City council leader Mike Storey said: "The new Liverpool is about to happen, and we can't wait."

[Kev]

More good news from the echo...

A MAJOR overseas store is set to become one of the flagship new shops in Liverpool's £700m Paradise Street development.

Developers already in talks with famous retailers, including Borders and French Connection, to join branches of John Lewis and Debenhams in the Grosvenor project say an upmarket fashion store will be the third landmark store.

And they are looking abroad for a retailer such as US's Macy's, Spain's Zara or France's Sephora to give it an extra-special attraction.

Dozens of top shops want to secure their place in the biggest retail development in Europe.

Claire Cooper, head of retail leasing for the development, said: "We want Liverpool to be a real destination for shopping. We want people to come and spend the day shopping, maybe going to the cinema, visiting Albert Dock and having lunch.

"Demand for shops is outstripping supply. We are talking to lots of retailers. Many companies' top performing stores are in Liverpool.

"For that third store we are looking for a high-quality fashion retailer who is a bit edgy, and possibly someone from abroad."

But the Paradise Street project will also feature smaller, local shops.

"We want to do something a bit different so there will be six districts each with a different atmosphere," she said.

"Hanover Street will be young and active with homeware shops and restaurants that will appeal to the young and trendy. Peter's Lane will be aspirational and up-market and Paradise Street will be a tree lined boulevard with flagship shops."

Developers want to entice shoppers currently spending their money in Chester and the Trafford Centre back to the city centre.

The new branch of John Lewis, covering 240,000 sq ft, will be one of the largest in the UK.

Established city centre stores such as HMV and Argos will relocate to the new development.

More than two million people are within Liverpool's shopping catch-ment area making it the eighth largest in the UK.

Grosvenor - the developers behind the project - want to build more than a million square feet of shops, offices, homes and leisure facilities in an area stretching from Hanover Street to the Strand.

Later this month deputy Prime Minister John Prescott is expected to make a decision on compulsory purchase orders required for the development.

[Kev]

GERMAN investment house Deka has confirmed it is considering investing in Grosvenor's Paradise Street development.

It was reported last week Deka was pondering a £200m investment in the £750m scheme for Liverpool city centre.

This week the fund management company has admitted it is in talks with Grosvenor.

[dave thomas]

i think the redevelopment is great for the city but what no one mentions that in 2007 the city is 800 years old we wlll be hosting parties etc to celebrate the charter of king john and half of town is going to look like a building site not a very good impresion for visitors is it

[Kev]

it has taken four and a half years to deliver this size of scheme, when it took around 12 years to deliver the Trafford Centre, is incredible. but it is happening!!!!!


THE £750m shopping development which will transform the face of Liverpool was last night given the green light by the Government.



Deputy Prime Minister John Prescott approved the Paradise Street Development meaning major building work by the Duke of Westminster's development company Grosvenor will start within a couple of months.

The 2.5m square feet development will include two huge stores - Debenhams and John Lewis - a multiplex cinema, two hotels, luxury flats and offices. An underground car park will also be built beneath a revamped Chavasse Park, and South John Street will be transformed into a two-tiered covered mall.

The scheme is expected to create 4,400 permanent jobs and a further 3,300 construction jobs.

[Kev]

PARK lovers will be able to enjoy live music at open air concerts as part of the redevelopment of Chavasse Park.

Work starts on giving the open space a major facelift this autumn as part of the £750m Paradise Street development.

A series of pavilions will be built on the park.

[Kev]

SOURCE- Liverpool Echo

LIVERPOOL will become the UK's number four shopping destination in 2008 when Grosvenor's £750m Paradise Street development opens, a survey revealed last night.

The city will climb an unprecedented eight places in the space of a year, according to a new report by national chartered surveyors and property consultants Gerald Eve.

Liverpool's spectacular rise could take the city even higher than fourth place, overtaking rivals Birmingham and Glasgow once the million square feet of shopping and leisure space is up and running according to Gerald Eve associate partner Mike Moran.

The London-based consultancy is predicting Liverpool's record climb by using a formula which measures factors such as shopping offer, accessibility, parking, security and environment to establish a premier league table of national shopping destinations.

Liverpool is currently in 10th place but it will fall to 12th in the next few years as major developments in Leicester and Belfast enable them to overtake the city.

Between 2007 and 2008 Liverpool will make its dramatic leap to fourth place from 12th. Only Manchester, Birmingham and Glasgow will be higher.

Last night, Liverpool council leader Mike Storey said: "This shows the importance of this week's public inquiry announcement about Paradise Street, and the dramatic importance of the project for Liverpool and Merseyside.

"But we will be guarding against complacency. We know there is still a lot of hard work to do to turn these predictions into results. But never before has Liverpool's future looked brighter."

Gerald Eve says the 1.2m sq ft of retail, new department stores for John Lewis and Debenhams and associated leisure and residential uses, will transform the city's shopping experience.

The anticipated completion of Paradise Street should allow Liverpool to reap substantial benefits with large scale regeneration and redevelopment initiatives already under way to celebrate its Capital of Culture status in 2008.

The consultancy assesses the UK's major cities in its annual Prime Retail study, with leading High Streets ranked in terms of both the overall volume of retail floor space and the quality of retail brands present.

Mr Moran said: "We currently place Liverpool 10th in the UK in terms of its retail offer. However, with new developments coming on stream in Leicester and Belfast over the next couple of years, the city falls to 12th place in 2007.

"Paradise Street will change things completely though in 2008 and bring Liverpool into the major league of international retail destinations. We are confident about our prediction, though when the development is opened Liverpool could climb even higher than fourth place.

"The current top three, Manchester, Glasgow and Birmingham, are far and away the leaders and Liverpool will be playing catch-up."

Steven Grindley, partner in charge of Gerald Eve's Liverpool office at Princes Dock said: "At long last, the people of Liverpool are set to benefit from 21st century shopping facilities. Paradise Street will mean local people are not forced on to the motorway to Manchester and the Trafford Centre if they want real choice and a selection of the top brands."

Dave Moorcroft, director of economics and investment at the Mersey Partnership said: "We have been supporting the Grosvenor Paradise Street Development for some years now. It is one of Europe's biggest retail developments and is a huge investment from the private sector, which will bring in more top brands and choice into Liverpool.

"It is great to see that Gerald Eve, a national property adviser, is predicting the success it will bring to the Liverpool City Region. By 2008 Liverpool will be in the Champions League of shopping destinations."

[Kev]

A WRANGLE over the positioning of a bus station within the £750m Grosvenor redevelopment plan for Liverpool city centre has finally been resolved.

Differences over the crucial facility have led to "robust" discussions involving Grosvenor planners as well as bodies such as Merseytravel.

What looks like being the final piece in the jigsaw will finally be put into place on Tuesday at a meeting of the city council's planning committee.

It will mean Deputy Prime Minister John Prescott being asked a second time if he wants to call in the Paradise Street area scheme for closer scrutiny.

The sticking point has been the design and siting of a proposed bus station on the site of the demolished Steers House next to Chavasse Park.

[Kev]

Final plans approved today!

[Kev]

A CONSORTIUM of businessmen from Thailand want to invest up to £60m in Liverpool's flagship Paradise Street redevelopment scheme, it was revealed last night.

Their interest in the £750m Grosvenor project follows Thai Prime Minister Thaksin Shinawatra's bid to buy a 30% stake in Liverpool FC.

While that deal appears to be foundering, Thailand's Chang Beer company has announced it is in negotiations with Everton over a £5m sponsorship deal.

Last night it emerged that Far Eastern money is now also targeting other important city schemes.

The investors have already sent four of their advisers to Liverpool to examine the redevelopment.

Last night Grosvenor project director Mr Holmes said: "The proposed investment from Thailand is on behalf of three finance houses that are all part of the same group. They were very impressed with what they saw in Liverpool and are eager to invest."

Big banks have already agreed to provide £400m towards the project, with Grosvenor and its investment partners agreeing to find the remaining £220m from private money

SO MANY world-wide investors are queuing to pump money into Grosvenor's Paradise Street redevelopment that some will be turned away, it was revealed last night.

A Bangkok based finance house is the latest to join the race for a slice of Grosvenor's £750m plan to create more than a million square feet of retail and leisure space between the waterfront and Church Street.

The wealthy Thai investors, who want to pour up to £60m in the PSDA, have already sent four envoys on a scouting mission to Liverpool. They were shown around by Grosvenor project director Rod Holmes and returned saying they were impressed with the scheme.

Their interest is not linked in any way with the bid by Thailand's Prime Minister to purchase a stake in Liverpool FC.

Last night Mr Holmes told the Daily Post: "The proposed investment from Thailand is on behalf of three finance houses that are all part of the same group. It is a very serious interest and we are continuing to talk."

Grosvenor originally teamed up with Henderson Global Investors, but when Henderson put their interest on the back burner last year, Grosvenor, headed by Britain's richest man, the Duke of Westminster, decided to go it alone. Although they hired London based DTZ to seek new partners, most of the talking has been between Grosvenor and potential backers.

Front-runners to share the investment with Grosvenor have emerged as UK financial institutions Liverpool Victoria, Hermes, as well as US based Teachers Insurance and Dutch finance house Redevco, the real estate division of the family that founded high street retailer C&A.

The big banks have already agreed to provide £400m towards the project, with Grosvenor and its investment partners agreeing to find the remaining £220m of private money.

Mr Holmes said: "The interest being generated worldwide in the Liverpool scheme is incredible. A few years ago such interest would have been unthinkable."

The boost for the financing of the scheme came as Liverpool City Council's planning committee gave the go-ahead for a revised Grosvenor scheme. Grosvenor revised the lay-out and siting of the bus and tram station which will now be in Canning Place, following talks with Merseytravel and other public bodies.

Mr Holmes warned that if road closure orders are challenged, or if the the recently approved CPO is challenged, the scheme's proposed October start date could be delayed, which would mean the project could not be finished in 2008.

[Kev]

FROM THE ECHO...

MORE than £500m will pass through the tills of new shops when Grosvenor's massive revamp of Liverpool city centre opens in 2008, it was revealed last night.

Tens of millions of pounds on top of that will be spent in new restaurants, cafe bars and other leisure facilities, giving the heart of the city its biggest ever economic boost.

The projected income from the Grosvenor development around Paradise Street has been revealed in the latest report compiled by academics and economists from the Liverpool Research Group in Macroeconomics. The report is edited by University of Liverpool economist Peter Stoney.

The projected rise in city centre retail sales is calculated by Dr Richard Barkham, research director at Grosvenor.

Work on the scheme to construct 2.5m sq ft of commercial and residential space is expected to start this October, with most of the work completed in 2008 when Liverpool becomes European Capital of Culture.

Dr Barkham says the 167 new shops being built will enable Liverpool's retail offer to match cities such as Leeds, Glasgow, Manchester and Birmingham.

He said: "Independent consultants estimate that in the first year of operation - 2008 - the Paradise Street development will draw about £500m of additional retail spend into the city."

At present, the estimated spend in city centre is £1.1bn. Dr Barkham estimates that by 2013 the city centre's turnover will reach £2.1bn. He adds that the increased level of spending will support an additional 4,400 permanent jobs, as well as 3,300 building jobs in the construction phase.

"Furthermore the £500m does not include new spending on entertainment and leisure," adds Dr Barkham, "the enhanced leisure offer will be considerable and will form a vital part of the overall pull of Liverpool city centre on its surrounding catchment area."

Last night Mr Stoney, a senior lecturer in economics at the University of Liverpool, said: "We support the Grosvenor scheme as it is funded almost entirely by private money. Liverpool needs a revamp and without Grosvenor we will continue to lag behind other key cities such as Manchester and Birmingham.

"An added benefit of the Grosvenor scheme is that it will make access to the Albert Dock more visible and pedestrian friendly. The dock needs to be connected to the city and this scheme will help achieve that."

Research commissioned by Grosvenor and the British Council of Shopping Centres indicates that over the next 10 to 15 years, as the population gets older and wealthier, shopping will become less 'needs' driven and more 'wants' orientated..

A trip to the city centre will become a day-long leisure activity.

[Kev]

EXPERTS have been hired to comb Liverpool's 42-acre Paradise Street re-development area for unexploded bombs.

The area was hit hard by German bombers during the 1941 Blitz when the port of Liverpool was a key target for the Luftwaffe.

Many parts of the re-development area have not been disturbed since the massive air raids on the city more than 60 years ago.

Architects and planners compiling a building programme for the £800m development have already held meetings with Government health and safety experts to discuss a UXB (unexploded bomb) strategy for the scheme.

Private companies specialising in ordnance detection have carried out provisional tests using modern techniques and have so far not detected any explosives.

But the real test will come in October when thousands of tonnes of materials will be excavated, with some work going deep into the ground to reach bedrock level.

Last night, Terry Davenport of BDP, the project architects, said: "Because the area was heavily bombed during World War II there are special procedures we have to put into place. Some parts of the Paradise Street site have been built upon, but some sites have been vacant since the war. Some parts of this area were flattened during the Blitz.

"There will have to be detailed inspections in advance of building work before any excavations take place. Fortunately much of this work can be done in advance using specialist equipment."

Contractors will also be alerted to be on the look out for any suspicious objects as they start what will be a massive earth moving operation around Chavasse Park.

The city's old Customs House stood on the site and was destroyed in the bombing along with dozens of other buildings.

Added Mr Davenport: "So far there have been no significant finds, but the area was so heavily bombed that we cannot take any chances."

If any unexploded devices are spotted it is likely that Army UXB teams will be drafted in to tackle them.


RECORDS kept by air-raid wardens during World War II are the key to finding unexploded bombs beneath the Paradise Street development area in Liverpool.

Explosives expert Captain Benjamin Day, of 33 Engineer Regiment, of the Royal Engineers, based in Wimbish, near Saffron Walden, said contractors should consult the air-raid log-books before building begins.

He said: "If the records show that the Paradise Street area was carpet bombed, there could still be live 50 kilo or even 1,000 kilo shells underground.

"Some may be buried so deeply they are not a concern but others could be unearthed during excavation.

"The contractors should be aware of this and employ extra workers to check as every hole is dug. If they found something they would immediately contact Merseyside police, who in turn would call us."

Captain Day's explosive ordnance control (EOC) team specialise in handling live bombs. They would remove the shell to a safe area and detonate it.

"As long as the contractors are responsible and aware of the risks there should be no great problem," he said..

Coventry, another city heavily targeted by the Luftwaffe, has experienced problems with unexploded bombs during building work. In April 2001 homes were evacuated and roads were closed in the city's Foleshill area after council workmen unearthed an anti-aircraft shell.

A bomb disposal team from Hereford were called in to remove the device, amid fears it could explode at any time.





Liverpool was the most heavily bombed city outside London.

It was the biggest west coast port and received vital supplies from America and Canada, without which Britain would probably have lost the war.

Around 80 raids were carried out on Merseyside between August, 1940 and January 1942, aimed mainly at the docks, railways and factories.

Most bombers came from northern France and Belgium, using the lights of Dublin in neutral Ireland to navigate by.

The RAF put up huge barrage balloons to stop raiders flying lower than 5,000 ft but 2,000 people were killed in the city.

Raids involved up to 300 aircraft and at one point were occurring every other night.

Bootle was hardest hit because of its proximity to the docks, with massive swathes of housing destroyed or damaged.

Source- Liverpool Echo