Liverpool Council could look at selling the city's arena and convention complex in 2024 after a review of its ownership of the facilities.
The ACC Liverpool Group - which runs the M&S Bank Arena and Convention Centre, Exhibition Centre Liverpool and Pullman Hotel - is one of four city council-owned companies that are now subject to a review. The review of council companies was recommended in last year's damning government inspection report of the Cunard administration.
The review has recommended a series of improvements into the city council's governance and oversight of its subsidiary company - The ACC Liverpool Group - in order to reduce the financial risk to the cash-strapped local authority.
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The independent report, by Local Partnerships, makes a total of 22 recommendations – many of which the council says are already being delivered. They include improving the governance relationship between the council and The ACC Liverpool Group, and the local authority’s oversight of its financial position.
A Governance Agreement has already been developed and is currently being reviewed by both parties. Responsibility for the cost of repairs and maintenance of the complex is set to be transferred to The ACC Liverpool Group as part of a new lease, to reduce the financial burden on the council.
Another recommendation will see an appraisal carried out in 2023/24 to consider a range of possible options for the future of the waterfront complex. These options will range from continuing with the current arrangement to transferring to another operator or the potential sale of the development.
The council was keen to point out that this will not affect any events planned in the run up to that appraisal and any subsequent decision being made - including next year's Eurovision Song Contest, which will be hosted at the arena and convention site.
Assistant Mayor and Cabinet Member for Strategic Development, Councillor Sarah Doyle, said: “The arena, convention and exhibition centre have provided an incredible boost for the city and is a major success story for Liverpool.
“This review is part of our improvement journey to make sure our governance arrangements are as good as they can be, and that we are getting best value and social value from our assets. This is something that the council has not been good at previously, and we are committed to putting it right. In the last year we have also worked with The ACC Liverpool Group on the creation of its own Ethical Charter to make sure it fits with the values of the city.
“It is right and proper that periodically, we take a long, hard, strategic look at our assets and consider whether or not to operate them in a different way. In 2023/2024 we will carry out a full options appraisal regarding The ACC Liverpool Group’s future operation. It is important to be clear that this will have absolutely no impact on the operation of the complex in the short and medium term, and events such as Eurovision and all the other high profile conferences and concerts that are in the calendar will take place as planned.”
Faye Dyer, Managing Director of The ACC Liverpool Group, said: “The recommendations outlined in the Cabinet meeting relate to Liverpool City Council’s review of its subsidiary companies as highlighted in the Max Caller report in March 2021. We have worked closely with the City Council to assist in this review and are pleased that it did not identify any significant concerns with the internal operation of The ACC Liverpool Group.
“We appreciate that the report includes a number of recommendations which are already in progress and will enable us to continue to be a cornerstone of the city’s business and leisure tourism offer.
“The ACC Liverpool Group has been instrumental in boosting Liverpool’s image as a city in which to live, work and invest. It has played a key role in the growth of the city’s visitor economy and has generated over £2bn in economic impact.
“We are proud to have played a key role in the renaissance of Liverpool and we look forward to continuing our positive relationship with Liverpool City Council. With a further 10 years in our management agreement with the City Council, we will continue to support them with any further actions as a result of the report. We have a really busy event programme and will continue to do what we do best – delivering fantastic entertainment, conferences and exhibitions for the city region.”
The report will be considered by the council’s Cabinet on Friday 16 December.
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