Sefton Council is applying for a £20m loan in order to pay for the new Marine Lake Events Centre.
The centre will reportedly cost in the region of £75m, with the council already receiving 37.5m from its town deal bid and a further £2.3m of funding from the Liverpool City Region Combined Authority. The report and planning application which was published on the council website yesterday explains in detail how the MLEC will come together and be built.
It also confirms that the local authority is looking to borrow up to £20m, with a detailed financial forecast currently being drafted and will be presented to Sefton Council's Cabinet in September. Cllr Marion Atkinson, Sefton Council’s cabinet member for regeneration and skills, said: “The submission of a full business case and the appointment of contractors and operators are the natural next steps in this fantastic one in a generational project.
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“We are wholly committed to the delivery of this incredible scheme which will be of massive importance to the economy across the borough.”
The planning application also states demolition work on the current Southport Theatre and Convention Centre is expected to begin next year before construction work starts in September 2023. It is thought the MLEC will be open towards the end of 2025.
As well as the events space, there will be meeting rooms, a restaurant, a cafe and a water and light show that will take place all year round on Marine Lake.
Cllr Atkinson continued: “We know that the public recognises the council’s ambitions to boost Southport’s cultural offer and visitor economy, as well as ultimately support local businesses and increase spend.
“This report reaffirms the Cabinet’s steadfast commitment to the MLEC project by borrowing up to £20m to make it happen. I am immensely proud of what we have been able to deliver in terms of regeneration projects for our communities and businesses across Sefton, especially following the impact of the pandemic.
“Should it be approved, the new development will provide first-class theatre space, a conference and exhibition centre able to accommodate a wide range of events, and café and signature restaurant, providing facilities for both visitors and the local community alike.
“The plans also include a new Water and Light show installation on the Marine Lake, the largest permanent installation of its kind in the UK. Our plans for the Marine Lake Events Centre and Water & Light Show directly complement the ongoing and continued investment Sefton Council makes toward improving the future of the town for our amazing communities and visitors.”
Steve Rotheram, Mayor of the Liverpool City Region, said: “Southport holds a special place in the hearts of so many people in our city region and beyond as being a family-favourite destination for days out and holidays alike. The town has been entertaining generations of visitors for as long as it has existed.
“We want to build on that legacy and make sure that Southport can continue to thrive and attract visitors for many more years to come, giving a massive boost to local businesses and creating good quality, secure jobs. We are working with Sefton Council to drive the town’s revival and start a new chapter in its story. I for one cannot wait to see what the future has in store.”
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