Wirral Waters Business Hub Secures £7.5 Million Go-Ahead

3rd July 2019

Wirral Waters developer, Peel Land and Property (Peel L&P), has reached a major milestone in the development of a three-storey workspace and entrepreneurial incubator for SME’s on the Wirral.

The £7.5m facility on Tower Road has been approved by planners at Wirral Council which will give a significant boost to Peel’s application for a SIF (Single Investment Fund) grant.

The state-of-the-art workspace will boast a high spec of sustainability credentials and high-tech connectivity as well as an incubator facility for the region’s entrepreneurial sector. The two upper floors will feature Grade ‘A’ level office accommodation, including co-working space and larger 3,000-4,000 sq ft suites.

Once built, the Tower Road development will afford tenants waterside views across the East Float Dock and across to Liverpool’s skyline and will support the demand for quality work space among the region’s small business sector.

Peel’s £7.5m business hub planned for Tower Road at Wirral Waters

The design of the building will be in keeping with the £10.5m Wirral Metropolitan College building next door, which was recognised with a number of Royal Institute of British Architects (RIBA) architectural awards, as both buildings have been designed by Glenn Howells Architects. National planning and development consultancy, Turley, acted for Peel in the planning submission for the Tower Road building.

The Council’s approval of this development will add significant weight to Peel’s application for a SIF grant. The Single Investment Fund is the key funding tool for promoting economic growth in the Liverpool City Region.Richard Mawdsley, Development Director at Peel L&P, said:

“Our 30-year strategy for Wirral Waters focuses on enabling global companies to trade alongside businesses from the Wirral and Liverpool, creating more than 20,000 permanent new jobs.

“The new Tower Road workspace has been designed with Wirral’s small business community in mind. From solo entrepreneurs to SME’s, the development on Tower Road will offer a high tech co-working environment in the centre of an internationally recognisable destination where innovation, sustainability and industry thrive.”

Cabinet member for Regeneration and Growth, Cllr Tony Jones, said:

“This development will play a key role in bringing investment, jobs and prosperity to Wirral. The provision of high-quality Grade A office space is a key factor in attracting and retaining entrepreneurs and small businesses and is another important step in our longer-term vision for the borough and for Wirral Waters.”

Wirral Waters is part of the Mersey Waters Enterprise Zone, which means that the local authority can retain 100% of business rates from tenants on the proviso that the rates are then reinvested back into the Enterprise Zone to create jobs, rates and homes. This is innovative but necessary as it creates a recyclable fund which will benefit the area.

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Tom Alsop
Tom Alsop
Investment Officer

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