A Liverpool-based development company tasked with the planned £35 million Lime Street regeneration scheme has claimed that the project could be forced to dip into £17 million worth of public money.
The £35m scheme has already been approved by the planning department, but is set to be contest in court by a prominent heritage group.
Developers Neptune are locked in a battle with SAVE Britain’s Heritage, who argue that existing buildings on Lime Street carry historical significance and should be restored, not completely revampled.
Neptune say costs for the heritage group’s proposed alternative would be at over £17 million, with £10m added onto the maximum value of the development and other costs- such as land fees- worth in excess of £7m.
And the company’s managing director, Steve Parr, has suggested that SAVE have failed to comprehend the extent to which some of the existing buildings have fallen into disrepair and that their solution is neither ‘credible’ nor ‘viable.’
He told reporters: “We recognise that SAVE is a well-meaning organisation but it is a deeply frustrating situation where SAVE seem to be out of touch with the reality of the poor condition of the existing buildings and difference in values between Liverpool and its London base.
“SAVE seem to be arguing that every building in Lime Street be retained and restored when only a few weeks ago its own conservation structural engineer stated about the Futurist: ‘The building is clearly in poor condition and it has already been accepted that the rear is beyond practical re-use’.”
Mr Parry added that “a robust and honest appraisal” of SAVE’s proposal would, “reveal a massive financial deficit that can only be filled with a very substantial public public subsidy” and that “this is simply not credible or viable.”
The case will be heard in court next week.