Work on the development of a new studio complex in Liverpool is finally set to get underway after the developers signed a deal to deliver the first phase of the project.
In October, key partner Liverpool John Moores University announced it had pulled out of the project after deciding to invest in its own campus instead.
However, developer Capital&Centric has now entered into a partnership with the Liverpool City Region Combined Authority and Liverpool City Council to deliver the first phase of the £70 million regeneration project.
This follows the news that the Combined Authority has approved £8 million of funding for remediation, design and planning for the project as part of a total funding package of £17 million.
The signing of the deal enables a contractor to be appointed with Capital&Centrc predicting remediation of the site is expected to complete by the end of 2023.
John Moffat of Capital&Centric described the new partnership as a “huge moment” for the project, as well as the Liverpool city region.
“Regeneration at this scale is always going to be complex, but the legal agreements are now in place so we can start delivering this transformational project,” he added. “It has the potential to provide Liverpool’s young people with the opportunity to be part of the UK’s booming film and TV industry, generating millions of pounds for the local economy and creating thousands of jobs for generations to come.”
“The new team at the Council are really transforming things and working together with them and the Combined Authority we’re going to be able to help kick-start delivering something pretty special.”
Twickenham Film Studios remains in place as the facility’s other anchor tenant. It is due to take over 85,000 sq ft of studio and ancillary space, which will be operated by TIME+SPACE Studios.