LIVERPOOL MANCHESTER STUDENT ALL PROPERTIES

Liverpool Festive Park is earmarked to be the latest regeneration project to begin in the city. The £700 million redevelopment aims to repurpose and bring back to life the former International Garden Festival site in Otterspool.

The site overlooking the River Mersey has been purchased by Liverpool City Council and presents the authority with a range of different options for development and regeneration. The new-look Liverpool Festive Park will be separated into five sites, each with its own distinctive purpose and aims.

It is another ambitious project from Liverpool authorities and developers that aims to do more than revitalise the city and broader region’s business aspirations. It also denotes a passion for developing new community links and for establishing long legacies in a city that is famous for them.

Liverpool Festive Park Photograph

Contained within is the 25-acre Festival Gardens site, already the beneficiary of a £3.7 million refurbishment in 2011. The previous facelift saw the restoration of the Chinese and Japanese gardens. The lion’s share of the regeneration will focus on the preservation and enhancement of the garden’s existing look and layout.

Dingle Bank will look to foster a community-based legacy in the area. Plans include a newly-built primary school, a brand new medical centre and a community hub that will look to bring together the residents living on the new homes built on other parts of the site.

Jericho Shore is where the new living spaces will be placed, with a total of 2,500 new residential developments earmarked for the site, alongside several cafes, restaurants and bars. The leisure and commercial space on the site will take up an estimated 350,000 square feet of space.

Beside that is Jericho Wharf, which will continue the run of social and leisure developments that will also permeate Jericho Shore. Elsewhere on the site, 37 acres of southern grassland will be used a wildlife preserve and natural habitat. The implementation of nature conservation will be a priority for Liverpool Festive Park, with provisions made to increase ease of access into and around the site for pedestrian and cyclists.

Plans for a brand-new on-site ferry terminal are also included in the Liverpool Festive Park project, which will aim to strengthen transport links between Liverpool and its Wirral, its riverside neighbour.

The site has had a lengthy if inconsistent history. It was initially designed to play host to the International Garden Festival of 1984; an event that wanted to rejuvenate a city beset by government cutbacks and high unemployment by bringing tourism and worldwide focus to the area.

Festival Gardens Map Outlining Development Zone

Since then, the site has been owned by different developers. It has previously been an amusement park and latterly an expansive area of natural beauty that provided green space for tourists and locals while hosting many well-attended cultural events each year.

Like Liverpool’s other large-scale regeneration projects, Liverpool Festive Park will provide wider-reaching economic benefits. The creation of leisure spaces will generate plenty of new jobs, while the residential areas will provide homes for many young professionals, who will find themselves in an area with a favourable commute to the city centre.

The building of brand-new residential and leisure areas on the Festive Park site will only increase the already high demand that Liverpool is experiencing for luxury property. RW Invest can offer investors 7% and 8% net rental returns on their Liverpool properties.

Liverpool has become a byword for regeneration in the last few years, as multiple ongoing projects in and around the city keenly display its ambition to become a global economic contender. The £5.6 billion Liverpool Waters scheme will transform the city’s waterfront over the next three decades, while similar endeavours in long-neglected areas like Anfield are proof of Liverpool’s determination to become a self-sustaining magnet for business, culture and tourism.

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