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4 Regeneration Projects Coming to Liverpool Property Market

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    How Liverpool’s Knowledge Quarter Will Transform in 2024

    The Liverpool City Region Life Sciences Investment Zone was officially launched last month and is set to attract £800m of public and private investment and create 8,000 new jobs in the city’s burgeoning Knowledge Quarter.

    This regeneration area encompasses the part of Liverpool best known for its connection to academia. It is home to some of the world’s most influential institutes in science, health, technology, education, music, and performing arts.

    Impressive progress has already been made in the Knowledge Quarter, with leading-edge developments and new facilities springing up. Spaces at The Spine, an events venue in The Spine office building in Paddington Village, has secured a top wellness rating and has been designated as one of the healthiest buildings in the UK.

    The Knowledge Quarter regeneration area will receive renewed focus and efforts to supercharge its development in the next few years. So, let’s look at some of these ongoing and upcoming projects in greater detail and see how they will affect property investment in general as well as buy-to-let investment properties in 2024.

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    Overhead shot of Liverpool Knowledge Quarter

    Fabric District

    The Fabric District, named for its historic link to the fabric and garment industry, has been identified by the local authorities as an area in need of some attention. As one of the gateway areas to the Knowledge Quarters, it’s a key component in the area’s makeover.

    The regeneration efforts targeting the Fabric District will enhance pedestrian and cycle routes and bring vacant sites and buildings back into use. The area’s distinct character will remain while encouraging new residential developments, start-ups, and employment opportunities.

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      Front of Royal Liverpool University Hospital

      Paddington Village

      Paddington Village is located close to Liverpool’s main university sector and opposite the new Royal Liverpool Hospital. This area is being developed in three phases. Work on Paddington Central commenced in 2017, and phases two and three concentrate on Paddington South and Paddington North. Once completed, it will be a 30-acre urban village boasting an events space and greenery within touching distance of one of the largest clinical campuses in the UK.

      The area’s key development is The Spine, a £44 million building that opened in 2021. The Royal College of Physicians occupies seven of its fourteen floors, and the Clatterbridge Cancer Centre occupies another floor.

      One way proposed to improve transport links to areas such as the Knowledge Quarter is through a trackless tram system. According to the local Liverpool government, this system would link central Liverpool with Paddington Village via the Paddington Lime Line.

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      Liverpool, UK - December 16, 2022: Science Park building in the Knowledge Quarter Innovation District, Mount Pleasant

      New & Improved Health and Life Sciences Facilities

      Apart from the flagship Hemisphere One and Two developments, there are plans for more facilities to boost the growing health and life sciences sector. This includes brand-new facilities and the expansion of existing institutes.

      Recently announced investment zone funding will allow for the expansion of the University of Liverpool’s world-first Centre of Excellence for Long-acting Therapeutics (CELT) and the Civic HealthTech Innovation Zone (CHI-Zone).

      The Liverpool School of Tropical Medicine will also be expanded thanks to this investment funding. High-containment Category Three labs fitted with cutting-edge robotics and AI tech will be opened for use by the Infection Innovation Consortium: iiCON.

      Compound Labs is another major project for Paddington Village, which will be located between the Hemisphere buildings and The Spine.

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        Upper Central Development

        One of the main issues with the Knowledge Quarter regeneration zone is that it is currently not well connected to Liverpool’s leading retail and commercial hubs. The newly announced development for Upper Central will revamp Liverpool Central railway station and its surrounding areas and renew the route from this central retail area to the up-and-coming Knowledge Quarter.

        One of the project’s aims is to blur the boundary between these distinct districts and neatly join them, allowing for more development opportunities. This includes space for new facilities and businesses appropriate for education, leisure, public exhibition space, offices, digital and creative industries, medical research institutions, hotels, and residential and student accommodation.

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        Author

        Jessica Ferris

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        Jessica Ferris is a property writer at RWinvest, helping our readers stay ahead of property market trends with the latest news and statistics.

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