The huge project to transform Birkenhead has been given a major boost.
Over its lifetime, the regeneration plan will see new food and drink offerings, event spaces and hundreds of homes completely change the town centre.
But the first phase of the project is two top quality office schemes to be built on the former Milton Pavements site, which will form a new ‘commercial quarter’ in Birkenhead.
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The Wirral Growth Company (WGC), a 50/50 project between Wirral Council and Muse Developments, has been given £75m by Canada Life Asset Management in forward funding for the development.
The huge investment means that work will soon start on the office blocks, which WGC says will be highly energy efficient and future proofed for modern office working.
Mike Horner, director of WGC, said: “This funding is a significant step in the regeneration of Birkenhead town centre and is a huge vote of confidence in what we are doing.
"We are now embarking on a transformational change over the next few years as we deliver our exciting plans which have local businesses and residents at their heart.
“Muse Developments’ successful track record in delivering place changing urban regeneration in towns and cities across the UK was key in enabling us to secure this investment on behalf of Wirral Growth Company.
“By having a high-profile fund such as Canada Life on board, it is not only driving inward investment into Wirral, which is a promise we made at the beginning of this project, but it also demonstrates the strength and potential of what we’re creating here.
"[It also] further cements our commitment to delivering a vibrant town centre which will once again be attractive to people from all over the borough.”
Cllr Tony Jones, chair of Wirral Council’s Economy and Regeneration Committee, was also delighted with the investment.
The Labour councillor said: “This announcement is a major milestone in our ambitions for the town centre and shows the confidence of private sector investors in our plans for Birkenhead, in addition to the tens of millions of pounds we have already seen committed to the town, such as through the Town Deal.
“The next few years will see Birkenhead undergo major transformation at the heart of our wider plans for the surrounding area and the rest of Wirral.”
Michael White, head of UK property at Canada Life Asset Management, said: “We are thrilled to be backing this development which forms part of Birkenhead’s wider regeneration plans.
“These two office spaces will provide the Wirral with gold standard, modern workspaces which meet the highest standards of energy efficiency.”
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