The Head of Asset Management presented the report of the Director of Regeneration and Place. The report sought authorisation to further develop proposals for the development of a Maritime Knowledge Hub on the derelict Grade II listed hydraulic tower on Tower Road, Birkenhead.

The report noted that the site was the subject of a proposal that would generate some 56,000 sq. ft of accommodation to deliver a Maritime Knowledge Hub. It stated that bringing this building back into use was of significant value to the regeneration of the wider area. The development of the Maritime Knowledge Hub at this location presented a significant economic growth opportunity as it aimed to deliver approximately 58,756 sq ft of new commercial floorspace and generate additional business rates within the Wirral Waters Enterprise Zone from practical completion until 2037. The project had the potential to create up to 1,062 gross direct and indirect jobs, with 621 Full time equivalent (FTE) jobs following practical completion and 22 FTE jobs during the construction phases. These outputs were based on the original business plan of 2021 and needed to be reviewed; however significant change was not expected as the overall vision remained the same. Development of the building for other uses had previously been considered and ruled out. The landowner (Peel) had confirmed that the development of the Maritime Knowledge Hub was its priority, and it was not currently considering any other options.

Members noted that it was a difficult proposition, being a derelict, listed building in a unique position, they questioned whether designating it as a maritime hub restricted its likelihood of success as it would limit its use. Officers noted that a further business case would be brought back to committee before a decision was to be made.

Councillor Jo Bird asked the Head of Asset Management if he would consider other options to bring the listed building back into use that reduce financial risks to the Council, including a heritage solution, anchor tenants, increased rent headroom, asset acquisition, loan finance and special purpose vehicle in the event members endorsed the recommendation. The Head of Asset Management indicated that he would be prepared to consider these matters in the further developing the proposals.

Resolved – That the Director of Regeneration and Place be authorised to further develop the proposals for the development of a Maritime Knowledge Hub on the derelict Grade II listed hydraulic tower on Tower Road, Birkenhead within the parameters set out in sections 3.1 to 3.10 of the report with a view to bringing back a more detailed report to a future meeting of this Committee.