Edinburgh’s Sigma sign Liverpool redevelopment deal

By PETER RANSCOMBE
Published on 21/03/2013 00:00

SIGMA Capital, the Edinburgh-based property investment vehicle in which Sir Tom Hunter holds a 22 per cent stake, yesterday sealed a development deal with Liverpool City Council.

Under the contract, which is the latest in a series of tie-ups between Sigma and the local authority, the Scottish company will redevelop land to the south and east of Lime Street Station for commercial use.

Sigma said that the deal was a “flagship development” for the council and has been listed as a “priority project” by the city’s mayor, Joe Anderson.

Hunter’s company will receive up to 4 per cent of the development value by way of fees and profit share on the project, which covers an area near to the city’s “knowledge quarter”.

Graham Barnet, chief executive of Sigma, said: “Significant improvements have been made to the Lime Street corridor in recent years, particularly to the new public realm outside of the station, but much still needs to be done. Now that the option agreement has been signed, the next step will be to start to outline a master plan, which will revitalise this currently under-used area of the city centre.”

Steve Parry, managing director at Neptune Developments, Sigma’s partner on the project, added: “Lime Street and the knowledge quarter give us an opportunity to dramatically improve the quality of the major gateway to the city and make a significant contribution to the development of the knowledge economy, which is one of the mayor’s key drivers for growth.”

Sigma is already building houses in Liverpool in partnership with the council.