Movement concerning Liverpool’s stalled New Chinatown development has raised hopes that the project could be set to take a step forward.
The controversial project has been in the pipelines for close to a decade with two previous schemes failing to come to fruition. The development had first promised the construction of around 800 new homes with additional commercial space, office space and a hotel - later being downsized in following applications
Developers North Point Global brought forward a scheme in 2015 which proposed 800 homes on the Great George Street, along with a 140-bedroom hotel, and 120,000 sq ft of offices. This plan never materialised and neither did a scheme brought forward by Great George Street Developments, which took control of The Great George Street Project site in 2018.
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The developer proposed construction of around 500 homes along with a hotel, commercial and office space. However it was revealed in March 2022 that the developers leading the New Chinatown project had collapsed into administration.
As reported by Place North West, Begbies Traynor, appointed last year to handle the administration of The Great George Street Project, hasn't yet made a final decision on who will end up controlling the site which is situated next to the city's established Chinatown. However, it reports that a new company, Ascot Capital Liverpool Ltd, is understood to have acquired a stake in the site.
Additionally, condition changes to the existing planning permission for the New Chinatown site have been submitted to Liverpool City Council by the same company. The application to amend conditions of the 2020 planning consent means it could be prevented from lapsing later this year.
Ascot Capital Liverpool was approached for comment by the ECHO.
Liverpool City Council currently owns the freehold for all three plots on the site. While Ascot Capital Liverpool has submitted condition changes to the existing planning permission, it is understood that the local authority retains its own interest and hasn’t ruled itself out of the bidding process being overseen by Begbies Traynor.
The ECHO understands a report exempt from the public sent to Cabinet in February 2023 referred to the site and the authority’s intention to potentially retain a stake in its future developments. The ECHO understands Liverpool City Council is still assessing its next steps in relation to the bidding process.
Liverpool City Council was approached for comment by the ECHO.
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