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Liverpool City Council's Cabinet will be asked to give the go-ahead, on Friday 8 February, to plans to breathe new life into the former site of Queen Mary High School in Long Lane.
The plans would see the council entering into an 'Option Agreement' with joint venture company Regeneration Liverpool, to build 164 new houses on the site.
The school was declared surplus in 2004 and its buildings were demolished in 2007. The council is proposing to transfer the 12-acre site to Regeneration Liverpool, under the city's 'asset-backed vehicle', model, which sees the council providing its land and private sector partners providing the funding for schemes.
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Regeneration Liverpool would then drive forward with plans to secure planning permission and deliver the 164 properties for sale, through their affiliate, Countryside.
Liverpool City Council's Cabinet Member for Housing, Councillor Ann O'Byrne, said: "The Regeneration Liverpool Partnership is playing a major role in us driving forward housing renewal in this city. It’s helping us maximise our land and assets while drawing in vital investment and expertise from the private sector.
"We hope that the plans for the Queen Mary School site can be another success story for the partnership. It gives us an exciting opportunity to deliver new housing in an area which really needs it – providing fantastic homes for local people, improving the neighbourhood and removing a large derelict site."
If the deal is given the go-ahead by the Cabinet, the city council will carry out a detailed assessment of the viability of the proposed scheme as well as confirming that the council is receiving the best possible price for the land.
It is proposed that Regeneration Liverpool will pay the council a cash deposit representing 10 per cent of the residual land value on exercising the option. The remainder of the value will be retained by the partnership.
(CD/GK)
