Home » Birkenhead To Receive £1bn Regeneration Boost As Part of Wirral Masterplan
Birkenhead To Receive £1bn Regeneration Boost As Part of Wirral Masterplan
Birkenhead town centre is set to receive a £1bn boost as the Wirral Waters regeneration plan looks to kickstart local economies across the river from Liverpool. The scheme is an extension of the Wirral masterplan to rejuvenate the area and will bring with it huge benefits for Wirral property investment and Birkenhead property investment.
The ambitious plans will bring much-needed attention and money to the town centre and wider area. As well as Birkenhead, brand new developments in Bebington, Moreton, Bromborough and Seacombe are planned. Such a grand regeneration project will bring thousands of new jobs to the areas and much-needed new revenue streams to local authorities that have suffered from a lack of funds for decades.
Birkenhead town centre has endured a tough time in recent years as economic pressures have forced businesses and residents elsewhere. Most recently, House of Fraser announced its decision to close its Birkenhead store as the ailing company struggles to restructure its business in the face of massive losses.
The plans for Birkenhead, in conjunction with the Wirral Growth Company and Wirral Waters, include the development of towers on the River Mersey waterfront, a brand-new market square and the creation of new quarters, or hubs, to rival the likes of Liverpool’s Baltic Triangle and Knowledge Quarter. Also included is huge swathes of office space with ground floor retail, 262 new homes, two multi-storey car parks and huge amounts of industrial space. The Wirral Growth Company is an equal partnership between Wirral council and Muse Developments.
There are also plans to ride the crest of Liverpool’s secure and profitable student property wave. Frank Field, MP for Birkenhead, will write to Universities in Liverpool requesting that they consider Birkenhead as the site for new student accommodation developments. The town’s proximity to Liverpool city centre, and its higher education institutions, makes it an ideal place for student property developments. If given the go-ahead, new student developments will increase the availability of luxury student property for sale in Birkenhead; serving only to boost the town’s prestige and economy.
This latest phase of the Wirral masterplan will keep 60% of the project spend within the local economy, with the aim of protecting already established jobs, businesses and residents in the area. The potential for growth is huge for Birkenhead town centre and beyond, with similar benefits being brought to Wirral property investment. The planned regenerations and developments will bring much hope to residents, businesses and property developers who see Birkenhead town centre and its surrounding areas as the new frontier. Let’s take a look at some of the main developments and the benefits they will bring.
Conway Park Commercial Quarter
The Wirral Waters plan for Birkenhead town centre will see a brand new commercial quarter developed that will bring jobs and businesses with it.
Wirral Waters and Wirral Growth Company aim to make Birkenhead town centre a much busier and attractive proposition for businesses, employers and consumers. The plan is to utilise already existing space at the site, with Europa Pools leisure centre and a Vue cinema making way for new commercial and office developments.
With a brand-new leisure centre and cinema earmarked for Conway Park to replace the ones being lost, Wirral Waters and Wirral Growth Company want the increased footfall and presence of workers to boost round-the-clock economic activity.
A brand-new entrance for Conway Park train station is also planned, and a rejuvenated transport link will make access to the new commercial quarter a much easier and rewarding experience.
Brand New Birkenhead Market
The history of Birkenhead as a market town goes back to 1835. Birkenhead Market has endured economic trials and tribulations as the decades have rolled by. Customers and businesses have dwindled from this once bustling site. Many butchers and fishmongers have traded in the same spot for generations, and there will always be a demand for a consumer experience where the proprietor knows your name, needs and tastes.
But plans are afoot to bring the famous market into the 21st century while retaining its local importance and prominence in Birkenhead town centre.
As part of this latest phase of the Wirral masterplan, a brand-new market will be developed only a stone’s throw from its current location. Situated on the Europa Building site, recently acquired by Wirral council, the new Birkenhead Market will be cast as a link between town’s past and future.
The new-look Birkenhead Market aims to attract a mix of older, more traditional shoppers with younger generations who may not have even visited the current site; instead doing their shopping online or in expansive retail parks.
There are suggestions that the new site will be modelled on Rotterdam’s world-famous Markthal; an immense structure daubed in colour and heaving with constant visitors and shoppers.
Whatever the aesthetic outcome, the new Birkenhead Market will be one of the main proponents of the regeneration of Birkenhead town centre.
Hamilton Square Creative Quarter
Hamilton Square is one of Birkenhead’s most visually-appealing spots. It has the largest collection of Grade I listed buildings in any square outside of London. Its beautiful Georgian architecture and public green space makes it one of Merseyside’s hidden gems.
Hamilton Square is already home to theluxury Hamilton Hub student apartments. With prices starting at £45,450 and an 8% rental yield, it’s an indication to investors that the Birkenhead area is one that will provide high end accommodation, low prices and high returns.
Plans for a new creative quarter include the development of a luxury boutique hotel with a conference facility. It would take its place among a mix of brand new commercial and residential opportunities. Furthermore, Wirral council is already dealing with an increased demand for student accommodation in and around Birkenhead. Hamilton Square is almost equidistant from both Birkenhead town centre and the planned Wirral Waters education campus. The new Hamilton Square Creative Quarter could not be better placed to become the economic engine room of a brand-new Birkenhead.
The Total Gross Development Value across the Hamilton Square area is more than £60m, and the investment opportunities are an extremely attractive proposition. Plans are in place to develop 100 new residential units and 160 student bed spaces alongside 3,600 square metres of retail and commercial space. These will be exciting times for Wirral property investment. Businesses such as MCK Flooring are already taking advantage of the set to be booming regeneration in Birkenhead.
Hamilton Square Creative Quarter is on course to become the epicentre of a regenerated Birkenhead Town Centre.
With these regeneration plans in place the future looks bright for Birkenhead. After years in the wilderness, the Wirral Waters project looks set to finally imbue the area with a grand scheme that will not only make Birkenhead a 21st century competitor but fortify it for a long, prosperous and exciting future.