Homes England, Liverpool Waters Finance Limited and Peel L&P Developments Limited for Liverpool Central Docks

• This is a proposed grant of £55.28 million to be provided through Homes England’s Brownfield, Infrastructure and Land Fund (BIL).This money will be used for various ground and infrastructure works to help take forward a development project to create spaces for homes (a minimum of 2,350), offices, retail, leisure, hotels and green areas.
• • Our key takeaways from the Subsidy Advice Unit (SAU) report are:
  • evidence and analysis should be provided where reports conclude that the Project’s internal rate of return is commensurate for its size and complexity to back up these conclusions;
  • any process used to refine and update viability gap calculations following a due diligence process should be explained in detail, highlighting specific areas which need to be addressed;
  • thorough detail should be provided on the potential distortive impacts on competition and investment. This should include any products/geographical markets which have the potential to be affected by the subsidy and the balancing exercise undertaken; and

  it is beneficial to conduct any economic appraisals of the expected benefits and negative effects of the subsidy in line with the approach found within the Green Book.

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