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£2 Billion Liverpool Redevelopment Plan Revealed

A £2 billion plan to create a new Knowledge Quarter in the heart of Liverpool has been unveiled.

A £2 billion plan to create a new Knowledge Quarter in the heart of Liverpool has been unveiled.

The plans submitted for the Knowledge Quarter include a new urban village - Paddington Village - which has been designed specifically as an attractive place for people to live, work and visit, with the scheme set to create thousands of new job opportunities within the city.


Paddington Village will comprise up to 1.8 million square feet of office and educational space, as well as residential buildings, restaurants and a new potential landmark skyscraper, which will benefit those living in the nearby areas.


The redevelopment programme aims to create new high value skilled job opportunities within scientific technology, medical and educational institutions in Liverpool that are expected to occupy the developments, as well as enhancing the already existing institutions located near by.


Taking Greenwich Village in New York as the inspiration for the project, Knowledge Quarter's chief executive, Colin Sinclair, believes it is important to create a sense of community where residents would want to live, work and enjoy their leisure time, thinking of Paddington Village as not just a business park.


In addition to the new residential buildings and job opportunities enabled by Paddington Village, there are also plans to build a new Merseyrail stop, which would ease the connectivity from other parts of the city to the heart of the new village.


The building of the proposed station is planned to commence in 2021 and take up to 10 years to complete due to complex underground work required.


Commenting on the planned Paddington Village, Mr Sinclair said:


"We want Paddington Village to connect to those areas around us and create employment - across the whole of Liverpool but particularly for people who live in the area."


The investment into the Knowledge Quarter marks the city’s most significant planning project away from the waterside and docks, extending the city’s wider regeneration plans as part of the Northern Powerhouse.


Last week estate agency Countrywide revealed that Liverpool has the fourth fastest growing rent on new lets in the UK.

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