Property developer Capital & Centric has announced plans to acquire Liverpool’s iconic Littlewoods building following its submission of a planning application to Liverpool City Council (LCC) that seeks approval to adapt and refurbish the building.
The scheme could involve £16m of private sector investment to create a hotel as well as business and commercial space. The plans would help safeguard part of the City’s heritage, transform an important gateway into the City and drive economic growth by generating hundreds of jobs for local people, the developer said.
The Homes & Communities Agency (HCA) owns the leasehold of the building and the proposal forms part of the agency’s initiative to accelerate the release of publicly-owned land and assets to unlock private sector investment. The HCA has been in discussions with Liverpool City Council (LCC) – the building freeholder – and Capital & Centric for several months and the developer hopes to start refurbishment works as early as summer 2013.