£80m Liverpool office development proposed - commercial mortgages

23 February 2007

A multi-million pound office development has been proposed for Liverpool, offering fresh opportunities for property investors looking to obtain commercial mortgages.

An area of land at Liverpool''s Princes Dock will be developed in an £80 million project proposed by the Mersey Property Company (MPC). Features in the proposed development include 122,000 square feet of office space as well as residential areas and an hotel.

If the development is to go ahead, investors could use commercial mortgages to fund investment in the area, which could prove lucrative in the future as more businesses are attracted to the region.

Speaking to the Daily Post, MPC shareholder Paul Bullock explained that development plans are underway.

"We are currently talking to Barclays, Halifax Bank of Scotland and Royal Bank of Scotland about possible debt and equity funding and we are also talking to some potential major construction partners as well," he said.

It is hoped that if proposals are approved, the development designed by RMJM could be completed in 2011.