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Work Starts on Next Stage of Liverpool’s Knowledge Quarter Regeneration

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    Paddington South Stage of Project Commences

    Work has begun on the next phase of Liverpool City Council’s regeneration project in the fast-developing Knowledge Quarter.

    The project received a cash injection of £160 million from the Government in April, allowing the Council to proceed to the next stage of the Liverpool investment scheme. These funds will establish the Life Sciences Investment Zone in the Knowledge Quarter (KQ Liverpool) and at Sci-Tech Daresbury.

    The commencement of work on Paddington South has been announced, which makes up the next stage of development in the city’s flagship £1 billion mixed-use development.

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      Overhead shot of Liverpool Knowledge Quarter

      Paddington Village Development Part of Wider Investment Zone Plans

      The Paddington Village development, part of the ambitious Knowledge Quarter scheme, includes the Spine Building, a clean-energy multi-storey car park, and the Novotel Liverpool Paddington Village Hotel.

      According to LBN Daily, the Paddington South stage of the project will include a revamped public green space near Grove Street. The target is to improve biodiversity by 10% and contribute to the city’s wider urban green-up programme.

      Two other major developments proposed for the regeneration zone are HEMISPHERE One and HEMISPHERE Two, which will provide commercial laboratory space.

      Cllr Nick Small, Liverpool City Council’s Cabinet member for Growth and Economy, said: “The start of work at Paddington South is a landmark moment in our journey to ensuring Liverpool becomes one of Europe’s leading R&D centres in science innovation.

      “An expanded Paddington Village is vital to the city’s future economic growth and to creating a conveyor belt of high skilled jobs. Once delivered, this former brownfield site will become the engine room for the delivery of our wider Investment Zone plans for the coming decade and beyond.”

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      What Does Liverpool Regeneration Mean for the Property Market?

      Ambitious and focused regeneration has been bringing lesser-known Liverpool City Centre districts into the spotlight in recent years. These include the Baltic Triangle, the North Liverpool dock area, and the Knowledge Quarter.

      The successful redevelopment of these areas has transformed the local property markets. Private developers have been attracted to these areas and exciting new-build property projects. One example is Element – The Quarter, Liverpool’s first residential eco-development, recently built in the Knowledge Quarter.

      Regeneration makes an area more attractive and strengthens local infrastructure and employment opportunities, often boosting rental demand and increasing rental prices. Redevelopment schemes will also often lead to rising property prices as the area becomes more desirable and in demand for property buyers.

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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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