Chancellor of the Exchequer Rachel Reeves announced HM Treasury's final approval of a £56 million investment by Homes England to accelerate the transformation of Liverpool’s historic Central Docks, part of the larger Liverpool Waters project.

This major investment, aimed at reviving the northern docklands and creating a new public park and essential infrastructure, is expected to support the development of around 2,350 homes. It is part of the government’s broader commitment to build 1.5 million new homes across the UK over the next five years.

Located within Liverpool Waters, the largest of five districts planned by Peel Waters along the River Mersey, Central Docks is set to attract over £550 million in private investment. The 60-hectare Liverpool Waters project already has outline planning permission and aims to rejuvenate the city’s waterfront with new residential, commercial, and public spaces.

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Liverpool Waters is currently a hub of activity, with approximately £1 billion in new developments underway. Among these projects is the 52,888-seat Everton Stadium, the Mersey Heat district heating network featuring a state-of-the-art Water Source Heat Pump energy centre, and over 600 new homes under construction. These projects add to the nearly 1,200 homes already occupied in the Princes Dock and Central Docks neighbourhoods, along with the recently completed £70 million Isle of Man ferry terminal.

In support of these initiatives, Liverpool City Council agreed in July to accept the Brownfield Infrastructure Land grant from Homes England, committing to oversee infrastructure development on behalf of Peel Waters. Central Docks has also been highlighted as a priority in Liverpool's long-term waterfront development plan, championed by the Liverpool Strategic Futures Panel chaired by Mayor Steve Rotheram.

Spanning 10.5 hectares, Central Docks will offer essential infrastructure, including underground utilities, roads, pavements, public parks, green spaces, and community facilities, forming the basis for a vibrant, mixed-use community. About 20% of the planned 2,350 homes will be affordable, aligning with Liverpool’s housing strategy to double affordable housing stock by 2030. The development will also feature Central Park, a new 2.1-hectare green space envisioned as one of Liverpool’s largest urban parks, which will be surrounded by hundreds of newly planted trees and interconnected public spaces.

This regeneration plan is set to transform Liverpool’s waterfront, positioning the city as a leader in urban redevelopment while addressing housing needs and fostering economic growth.