Go ahead for £70m shopping complexThe Walton Group of Bill Davis has finally sold its remaining interest
in the site of Liverpool’s old post office in Whitechapel.
It is hoped work on a £70m shopping centre known as the Met Quarter
will finally start in the next two months. The future of the site has
been a major headache for the city council for years. The Walton Group
has owned the site since the mid-80s but has now sold the development
for an undisclosed sum to retail group Milligan.
Designer retailer Flannels, which has shops in London, Manchester and
Leeds, has signed up to be the anchor store in the two-storey development.
Milligan is confident it can attract other retailers.
The Met Quarter will be built around a ‘covered streets’
design and Milligan says it will be open I time for Christmas 2005. John
Milligan, chief executive, said ‘We have exchanged contracts with
the Walton Group and the deal should be complete by mid-April. Building
work will resume in the next two months. ‘Liverpool is the place
to invest for retailers and our scheme will complement the Grosvenor scheme
to make the city a prime retail destination by 2008, when the city is
European Capital of Culture.’
The buyout followed months of negotiations between Walton and Mr Milligan,
who was originally the sub-contractor for the development until building
work was brought to a halt last year. Liverpool council leader Mike Storey
said: ‘The old post office is a very important site.
‘This development will be opposite the new Culture HQ and close
the Paradise Street shopping centre. ‘It will help transform Liverpool
into a premier shopping destination and I am looking forward to building
work resuming.’