£200m Chinatown scheme may be sold

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The design for New Chinatown. Pic © North Point Global

The £200m ‘New Chinatown’ building project could move into different hands after property developers, North Point Global, is in talks to sell its interest.

The firm, based on Liverpool’s Albert Dock, is in advanced discussions with Your Housing Group about selling the scheme.

Warrington-based Your Housing Group is also behind the £260m Anfield regeneration project, which includes a new high street, as well as being a partner involved in the Liverpool Waters £5.5bn development.

New Chimatown was given the go-ahead in December 2015. It includes 850 new homes, business premises, leisure facilities, a hotel and a Chinese shopping area. The development is just off Great George Street, below the Anglican Cathedral.

The regeneration of Europe’s oldest Chinatown is a major part of the Northern Powerhouse project, and is expected to add massive growth to Liverpool’s city centre.

Liverpool attracts 30 million visitors to the city each year, with a local economy worth £10.6 billion. The development is expected to attract more tourism from China.

Architecture company BLOK has used modern and tradition Chinese design as an inspiration.

YouTube: North Point Global

North Point Global said in a statement: “There have been ongoing sale negotiations with Your Housing Group in relation to the New Chinatown development in Liverpool which are continuing at the present time. However, no binding agreement has been entered into with them.

“Chinatown Developments have received significant interest from various parties around the world over the availability of the New Chinatown site on a purchase or joint venture basis and will consider these in due course.”

North Point Global has said it will release a follow-up statement at the end of the month, but a deal is expected to be completed this week.