One of Southport's most historic buildings is poised for a comprehensive revamp as part of a multi-million pound regeneration scheme aimed at fostering new businesses in the town centre.
The 'creative hub' is one of the council's flagship initiatives as they aim to stimulate Southport's creative and digital sectors and draw in fresh inward investment. The Enterprise Arcade is taking shape at the Crown Buildings site on Eastbank Street, which was historically occupied by Edwardian shopkeepers.
The new building will also feature a variety of spaces designed to nurture growth and collaboration and include a food and drink-based ground floor offer, a flexible co-working space on the first floor, three 'grow-on' offices and a large workspace on the top floor. In addition to business space, the project aims to offer specialist support for tenants in the creative and digital sectors, alongside general business advice from Invest Sefton and the Local Growth Platform.
This outline plan was presented to cabinet on Thursday and noted the financial viability of the project, which aims to break even over the next five years. A key element of the plan is a 'prudent' approach to rental income, factoring in space dedicated to young people and students as well as potential rent-free periods.