As work commenced on site at the £66 million exhibition centre and hotel in Liverpool today, the Chrysalis Fund announced that it has provided a loan of £8 million towards the exhibition centre element of the project.
This is the third deal for the Chrysalis Fund, which has now agreed loans in excess of £16 million for commercial and industrial property projects throughout the Liverpool City Region.
The Exhibition Centre Liverpool will be capable of hosting large conferences, trade and consumer exhibitions and sports and cultural events on a national and international scale. The new complex, which will also include a four-star hotel, will form part of ACC Liverpool, home to BT Convention Centre and Echo Arena.
It will feature an 8,100 sq m, three-hall exhibition centre which will connect to ACC Liverpool by a pedestrian link bridge, making the venue one of the only purpose-built interconnected arena, convention and exhibition centres in Europe. The exhibition centre is expected to open for business in summer 2015.
Jim Gill, chairman of the Chrysalis Fund said: “This deal is an important milestone for the fund and represents our commitment to invest in high quality urban regeneration schemes in the Liverpool City Region. It is fantastic that the loan will be used towards such an important scheme for the city which will bring about job creation and economic benefits – the two main drivers behind the Chrysalis Fund itself.”