Liverpool’s residential property scene has been receiving a lot of attention recently, with an array of exciting new projects being planned and coming to fruition, but there is also a range of commercial ventures that promise great things for the city too.
The latest example of this is the announcement of the final stage of Edge Lane shopping complex’s redevelopment, with the charge being led by Derwent Estates. Derwent Estates are a Manchester-based firm who manage over 2.8 million sq ft of commercial property, with 2.1 million sq ft of this being made up of retail and leisure space.
The retail park in Edge Lane, known as the Liverpool Shopping Park, has undergone a lot of transformation over the past few years, with Derwent Estates leading the wider redevelopment on behalf of the Albert Gubay Charitable Foundation.
The park itself contains key retailers such as TK Maxx, JD Sports, and M&S Food. The M&S Food location already takes up 11,000 sq ft of the park, but in the last part of the redevelopment the retailer will expand even further, taking on a massive 24,500 sq ft unit as part of their 15-year lease.
Property Director at M&S, Will Smith, has stated that ‘we are excited to reveal our plans to create a showstopping food store at a new location in Liverpool Shopping Park. The move to a site more than double the size of our existing store means we can offer even more trusted value, the latest product launches, and showcase the best of M&S Food for our customers.’
This ambitious upscaling is set to be part of the £8 million final development which will total 227,000 sq ft when it is completed in 2027. Such a wide-scale project means not only get things for architecture jobs in Liverpool but also for property jobs in Liverpool too as this will open up opportunities for retailers to be involved in this space.
The designs for the project have been put forward by RGP Architects and have been submitted to Liverpool City Council. If everything goes ahead as planned, this means that the biggest retail park in the city is set to grow even further.
Asset Management Director at Derwent Estates, James Maule-Ffinch, states that ‘this development is the final piece of the jigsaw for this extremely popular retail park. It will not only enhance the customer experience with an upsized high-quality anchor store in M&S Food but also strengthen the overall tenant mix and complete the original masterplan for the scheme.’
He also went on to highlight that ‘we are proud to be delivering the concluding phase of a project that has already brough significant investment, jobs, and best-in-class retail and leisure brands to the area.’
Such a large scale commercial development in Liverpool is an exciting project and it will be interesting to see the positive impact this also has on the local economy when it comes to fruition next year.