Capital & Centric appointed us to prepare a business case for the proposed development of film studios on Edge Lane in Liverpool. The project involves the re-use of the iconic former Littlewoods Building, which is located on a key gateway into the city.
The project was initiated in order to support the growth of the creative and digital sector in the Liverpool City Region. The proposals provided for some 16,000 sq m of refurbished and new space comprising: film studio; studio work space; Liverpool Theatre School; and the Botanical Creative and Digital Hub.
We prepared a business case for the development, which required significant public sector funding in order to meet a viability gap, with this funding expected to lever in over £20 million from the private sector. The project involved the acquisition of the site by Liverpool City Council from the HCA.
In carrying out the assignment we assessed all five cases (strategic, economic, financial, commercial and management) and looked at a range of options for the scheme.
The proposed scheme is expected to generate significant gross and net additional economic benefits at the Liverpool City Region level, including: significant gross and net job creation; substantial GVA impacts; the attraction and retention of talented individuals; an enhanced creative and digital sector; improvements to Liverpool’s image; increased visitor numbers; a stronger local cultural identity; developing an innovation culture in the creative and digital sector; and stimulating the regeneration of the Central Mayoral Development Zone.
We prepared a final report for the client which supported the overall case for public sector investment. This contributed significantly to Liverpool City Council’s decision to approve the scheme.