Capital & Centric Plc has announced plans to acquire Liverpool’s iconic Littlewoods building at Edge Lane, Liverpool, following its submission of a planning application to Liverpool City Council (LCC) that seeks approval to adapt and refurbish the building.

This scheme could involve £16m of private sector investment to create a hotel as well as business and commercial space. The plans would help safeguard part of the City’s heritage, transform an important gateway into the City and drive economic growth by generating hundreds of jobs for local people.

The Homes and Communities Agency (HCA) owns the leasehold of the building and the proposal forms part of the Agency's initiative to accelerate the release of publicly-owned land and assets to unlock private sector investment. The HCA has been in discussions with Liverpool City Council (LCC) – building freeholder - and Capital & Centric Plc for several months and the developer hopes to commence refurbishment works as early as summer 2013.

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Neil Pickering, Head of Area at the HCA said: "The Littlewoods building is a key priority for the HCA. Capital & Centric Plc’s proposal to save this iconic building and transform it to its former glory is great news for Liverpool.

"The developer's vision for this huge art-deco complex complements HCA’s and LCC’s wider plans to develop a number of strategic sites along Edge Lane, bringing vacant land and empty buildings back into use. This will play a key role in revitalising the area; creating real opportunities for growth. This is a very complex and challenging building and there’s still work to do but we’re looking forward to seeing the final project proposals over the coming weeks"

(CD/GK)