Liverpool City Region’s landmark £2bn Investment Fund is set to unlock more than 520,000 square feet of high‑quality office, laboratory and light industrial space in its first tranche, supporting over 2,800 jobs across the region.
The first phase follows an overwhelming response from the market, with dozens of projects worth more than £1bn submitted after the fund was launched at MIPIM in March. Guided by a new Liverpool City Region Investment Strategy, unveiled yesterday at UKREiiF, fund managers have now identified six priority projects worth more than £200m to progress to the next stage.
Major boost for city centre offices and innovation space
Two of the six priority schemes are located in Liverpool’s Central Business District and would together deliver nearly 250,000 square feet of Grade A office space, supporting more than 2,000 jobs. Both schemes already have full planning consent.
They include Liverpool’s first new‑build Grade A offices in 15 years, designed to catalyse wider regeneration, alongside the redevelopment of a prominent long‑vacant Grade II listed building, creating 140,000 sq ft of high‑quality workspace.
The remaining priority projects include two industrial developments in St Helens, a laboratory scheme in Runcorn, and a light industrial development in Liverpool, reflecting the City Region’s focus on growth sectors such as advanced manufacturing and life sciences.
Advanced projects already moving forward
Alongside the six priority schemes, two projects are already at a more advanced stage.
Funding has been approved for Sci‑Tech Daresbury’s Project Violet Phase 2, which will create around 250 jobs across two state‑of‑the‑art buildings once completed.
Meanwhile, HEMISPHERE One, a hi‑tech lab and office development in Knowledge Quarter Liverpool, is in line for Investment Fund support subject to approval of a full business case. The project would create more than 500 operational jobs and nearly 300 construction roles, helping address an urgent shortage of high‑quality lab and office space to support research and innovation in the city.
In total, the eight projects would deliver 520,000 sq ft of commercial space and support more than 2,800 jobs across the Liverpool City Region.
Liverpool City Region Mayor Steve Rotheram said:
“For too long, regions like ours have been expected to transform local economies with short-term funding and one hand tied behind our back.
“This £2bn Investment Fund is about changing that, giving us the ability to really back ourselves, think long-term and invest in the projects that can genuinely change people’s lives. We’ll use it to unlock new opportunities, bring private investment into our communities and support the homes, jobs and inclusive growth that our region needs.”
Backed by government and designed to crowd in private investment
The £2bn Investment Fund has been created by the Liverpool City Region Combined Authority, working with government and public and private sector partners. It brings together new and existing public funding into a single investment pot, designed to unlock stalled sites, accelerate regeneration and attract billions more in private and institutional investment.
Just days after its launch, the fund received a £95m boost from the Government’s City Investment Funds (CIF) programme, aimed at strengthening investor confidence and accelerating Liverpool city centre’s regeneration pipeline.
CIF funding will help support some of the first‑tranche schemes, following a competitive call for projects to deliver city centre office space, labs and light industrial units across the City Region.
Supporting growth sectors and long‑term productivity
The investments will support fast‑growing sectors including health and life sciences, digital technology and advanced manufacturing. A second call for schemes is expected later this year, with a specific focus on the digital and creative industries.
All future funding decisions will be guided by the new LCR Investment Strategy, which underpins the City Region’s decade‑long Growth Plan. The plan aims to raise productivity, strengthen key industries and deliver sustainable, inclusive economic growth for the region’s 1.6 million residents.
Forecast to grow the City Region’s £43.3bn economy by £10bn and deliver tens of thousands of jobs over the next decade, the Growth Plan highlights the importance of improving skills, transport, housing, health and infrastructure.
Investment will support major transport upgrades, including four new rail stations, a rapid transit system, and transport‑linked development across the region. The fund will also help fast‑track housebuilding, supporting a £2bn housing pipeline expected to deliver up to 64,000 new homes.
Major regeneration opportunities will also be backed, including Liverpool’s North Docks, where a new Mayoral Development Corporation will drive investment in the area between the city centre and Everton FC’s new Hill Dickinson Stadium.
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