The project — at Vescock Street/Limekiln Lane and part of the Greatie Market/Scotland Road Regeneration Programme — will bring forward delivery of a comprehensive newbuild housing development, creating much needed new homes and wider placemaking improvements in the area.

If the plans are approved by Cabinet on Tuesday 16 December, it will see the Council work with Aviva Capital Partners as lead investment partner to fund a Build to Rent (BTR) scheme alongside affordable homes delivered by Torus.

The involvement of institutional funding into an area that has historically struggled to attract private investment is a key factor in making possible a housing led regeneration that may otherwise not come forward. The combined impact of Aviva and Torus would begin to make a transformational impact on the neighbourhood, reinforcing the Council’s own investment into Greatie Market.

This is also an opportunity to build a longer-term relationship with institutional investors who invest in places for the long term.

The plan for around 130 new homes on Vescock Street/Limekiln Lane includes approximately 105 BTR homes, with Aviva Investors managing the dedicated fund from launch. A further 25 Rent to Buy homes will be built for and managed by Torus. On the Central Tin site next to Greatie Market, Torus will carry out a feasibility study with the aim of building up to 30 affordable homes.

The scheme will see demolition of poor-quality buildings, and landscaping and connectivity upgrades. The new housing will be complemented by improvements made to the wider area including;

• public realm enhancements,
• better walking and cycling links,
• improved streets and spaces

This investment will help support local businesses around the Greatie Market and create a safer, more attractive neighbourhood for residents.

Subject to the usual approvals and statutory processes, the Council’s partnership arrangements will enable delivery at pace.

This project forms part of Liverpool North New Town – a community focused programme for improving neighbourhoods and delivering new and upgraded housing, including Vauxhall, Everton, Anfield and Kirkdale.

Councillor Nick Small, Cabinet Member for Growth and Economy, said:

“Vescock Street/Limekiln Lane is a pivotal early phase that brings forward new homes and high quality placemaking where the city most needs it.

“By combining institutional Build to Rent investment with affordable housing from Torus, we are unlocking delivery in an area that has historically struggled to attract private capital – setting a new standard for neighbourhood renewal in the north of the city.”

Managing Director of Torus Developments, Chris Bowen, said:

“We’re proud to work with the Council to deliver affordable, well managed homes that meet local needs.

“Alongside the wider regeneration of North Liverpool, Scotland Road and the Greatie Market area, this programme aims to create a more balanced, sustainable community.

“This is an exciting opportunity showcasing what can be achieved in this part of Liverpool.”