Over £8 million is to be invested in Project Violet in Liverpool.

The next stage of development is located at Sci-Tech Daresbury, the world class location for high-tech business and leading-edge science.

A £2.5m loan from the Urban Development Fund, together with £5.9m from the Combined Authority's Chrysalis Fund, provides cornerstone funding for Project Violet, which is expected to create or support 332 full-time equivalent jobs.

Lead contractor Willmott Dixon has officially begun work on the £17.8m Project Violet development, which will comprise 42,000 sq ft of speculative grade A office and innovation space, coupled with the highest energy efficiency standards, for dynamic, forward thinking science and technology focused businesses.

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The project will encompass two buildings (V2 and V3) providing 12,000 sq ft each and one building (V1) of 18,000 sq ft. Each building will provide floor plates of around 4,100 to 6,150 sq ft and as part of the work there will be major landscaping improvements around the Sci-Tech Daresbury campus.

The progression of the Project Violet development underlines the Sci-Tech Daresbury joint venture’s commitment to the future prosperity of the Liverpool City Region and wider North West through meeting the market demand for high-quality workspace for high growth science, technology and innovation-led businesses that are attracted to the area’s unrivalled ecosystem of private and public sector business support, academia and transport connectivity.

The project is set to complete by the end of 2021.