Happiness is a regenerated Liverpool

It was made world famous by the Beatles but it is Liverpool's Capital of Culture award and a remarkable regeneration scheme, which has sealed the city's economic and cultural importance

Liverpool's regeneration plans have been long over due, especially since the city's northern neighbours, Manchester and Leeds, have been enjoying investment and redevelopment for some time. The changes began in 2003, when the council began putting together a bid for the Capital of Culture title, which required them to plan a programme of cultural events to show off Liverpool at its best. It paid off and the city beat Newcastle, Birmingham, Oxford, Bristol and Cardiff to be crowned the prestigious title. Liverpool was, according to Tessa Jowell, the then Culture Secretary, the "most vital, energetic bid".

The culture year started in January 2008 with an outdoor opening ceremony attended by 40,000 and a performance by the former Beatle Ringo Starr. More than 7,000 events were held at galleries and theatres across the city during the 12 months and the city played host to the MTV Europe Music Awards, the BBC Sports Personality of the Year and the Open Golf Championship.

It's not just the creative and cultural industry in Liverpool that has been given a boost - so too has the commercial sector, with over £3bn earmarked for the city's transformation. Since 2000, more than 1 million sq ft of office space has been added to the city's business district and a wealth of apartments and retail units have opened up.

Liverpool One, possible the city's most important development, spans 42 acres and encompasses 1.5m sq ft office space, retail units, restaurant and has created 5,000 new jobs. The development follows that of the Met Quarter, which opened with a flurry of interest thanks to Hugo Boss and Armani taking up shop - the first
time in Liverpool's retail history.

One of Liverpool's biggest assets, the World Heritage-listed waterfront has, unsurprisingly, become a development hotspot. Last year, a new £150m arena and convention centre at Kings Waterfront was the launch pad for the European Capital of Culture awards. The Cruise Liner terminal opened in 2007 and the Leeds - Liverpool Canal is also complete. Meanwhile, CommerzReal recently signed an agreement with Neptune Developments and Countryside Properties for the construction of a 140,000sq ft office phase on the Mann Island development. Once completed, Mann Island - which is worth around £135m - will also accommodate apartments and leisure and retail units.

Liverpool’s potential caught the eye of Microsoft founder Bill Gates and earlier this year, the Bill and Melinda Gates Foundation awarded the Liverpool School of Tropical Medicine US$23m to spearhead an international research programme. In fact, the city’s rebrand has been so successful that it has been chosen as one of only two UK cities to represent it at the Shanghai World Expo next year. The event – themed ‘Better City, Better
Life’ – could bring up to £50m worth of investment to Liverpool.

Of course, the recession has hindered some of Liverpool's plans. "This has been a very difficult period and I think we're a long way off a recovery," says John Kelly, executive director for regeneration in Liverpool. "However, Liverpool has coped very well - investor confidence is high, we're attracting a lot of students and we don't have a glut of apartments standing empty like in some cities."

Following the Capital of Culture announcement, Liverpool's property market thrived. Last year a Bank of Scotland report found that since the city's status was confirmed in June 2003, Liverpool house prices have risen by 76 percent, while the L5 postcode has recorded the fastest rise in average house prices since June 2003, rising by 216 percent to £76,403 from £24,142 in June 2003. The market has slowed down considerably now but it has far from crashed - house prices rose by 2.5 percent in the last 12 months and by 6.1 percent in the last quarter - promising figures at such a rocky time.

Liverpool has, considering what they are up against, done very well. Liverpool One scooped Retail Project of the Year at the Insider Property Awards earlier this year and the city's Economic Development Company won the Public Sector Team award. According to HSBC's Future of Business Report - a survey of UK business - Liverpool could become a super city as it reaps the rewards from "new economy income streams such as biotech, stem cell, innovation, gaming and even alternative work practices and business models."

An industry that is already flourishing is the arts. In 1998 the Tate Liverpool opened and in the year of the Capital of Culture, it recorded one million visitors - a rise of 68 percent year on year. The redeveloped Rope Walks area has become popular with design and media businesses while the Foundation for Art and Creative Technology (FACT) has become a hub for creatives in the city.

The council has been sure to include the whole of the city - not just the centre - in the regeneration plans, which has added too Liverpool's sense of community. The Northshore, to the north of Liverpool, has a number of projects in planning including the Wellington Employment Park and Canada Park. Meanwhile, the Eastern Gateway at the end of the M62 motorway will soon be home to the Liverpool Innovation Park and a revamped former Littlewoods Building. Finally, to the south of the city, international gateway will include the Estuary Commerce Park, Urban Splash's Matchworks, Dakota Business Park and Venture Point.

One thing is certain - The Capital of Culture award has, historically, provided a huge boost to winning cities. When Glasgow was awarded the title in 1990, tourists to the city numbered only a few hundred thousand a year. Today that figure is nearer four million. In Liverpool, more than 15 million people attended one of the 7,000 events, generating £800m for the city's economy. The president of the European Commission, Jose Manuel Barroso, said that it was "one of the most successful Capital of Culture programmes that we have ever had".

"The Capital of Culture has given us the platform to bring people to Liverpool who haven't visited in a long time," says John Kelly. "I think a lot of people have bought tabloid headlines and the negative press Liverpool had in the 1980s and they still hold those opinions. However, since the regeneration those same people have visited and said: 'Crikey, it's such a different place; it has such a lot to offer'."

Liverpool intends to capitalise as long possible from the award and has given themes to each year following the events. In 2009, the city will launch the year of the environment – with a £9m restoration of the city's famous Stanley Park being the main focus of that - and in 2010 it will be the year of science and technology.

These are bold moves by Liverpool but in light of their recent successes, the city could be onto a winning format. "There is a lot of pride in Liverpool and I think that is one of the principle reasons for its success," says John Kelly.
"Residents have a strong belief in the city and its potential."


For more information:
The Capital, 39 Old Hall Street, Liverpool, L3 9PP, Visit: liverpoolvision.co.uk or Tel: +44(0)151 600 2900