Sigma Capital, the Edinburgh-based property investment vehicle in which Sir Tom Hunter holds a 22% stake, yesterday sealed a development deal with Liverpool City Council.
Sigma has a specific vehicle with Liverpool Council, called Neptune Inpartnership, which was established in 2012 to develop commercial regeneration opportunities arising from Sigma's relationship with Liverpool City Council. Sigma will receive 3-4% of the development value by way of fees and profit share.
Sigma said that the deal was a “flagship development” for the council and has been listed as a “priority project” by the city’s mayor, Joe Anderson.
Neptune Inpartnership will develop the 7.4 acre site for commercial use; it extends from Lime Street to the east, and is bounded on its southern edge by Renshaw Street up to the city's Knowledge Quarter.
Steve Parry, Managing Director at Neptune Developments, said,
"Lime Street and the Knowledge Quarter give us an opportunity to both dramatically improve the quality of the major gateway to the City and make a significant contribution to the development of the knowledge economy which is one of the Mayor's key drivers for future growth."
Sigma is currently in the process of developing other key sites in the city including around 750 new homes at Norris Green, a 63 acre site located five miles from Liverpool City Centre.