Developers Capital & Centric have announced they have completed the acquisition of the former Littlewoods headquarters in Liverpool.
The Manchester developers have not only acquired the 180,000 sq ft building off Edge Lane but also the six-acre development site adjacent to the building.
The firm’s £35 million plan is to turn the site into a major hub for television, films and other creative industries and will create hundreds of new jobs in the process.
In recent years Liverpool has become a magnet for TV and Film crews. It has been used for filming locations for Nowhere Boy, Fast and Furious 6, Jack Ryan, Captain America, Sherlock Holmes and hit TV dramas Foyles War and Peaky Blinders.
However even though Liverpool has become a popular backdrop for numerous TV shows and films, once the cameras stop rolling the movie makers leave town to complete their post-production elsewhere.
Capital & Centric’s plans are expected to double the revenue generated from around £20m to £40m a year by occupying the space with post production companies and keeping more of the work in the city.
Part of the development has already been completed as the nearby Bunker Buildings have been converted and are now filled up with media and digital businesses.
The developer has already completed many successful commercial projects throughout Merseyside including in the city centre, Birkenhead and Speke.
Co-founder of Capital & Centric Tim Heatley said: “This acquisition marks an important milestone for us – it is the result of more than five years’ hard work and the next step in realising our vision for this high-profile site.
“Liverpool City Council and the Homes & Communities agency have been very supportive of our plans for this iconic building, which forms an important gateway to the city.”