Edinburgh-based rented housing developer Sigma Capital Group announced the launch of a £39 million regeneration scheme adjacent to Lime Street Station in the centre of the Liverpool.

Sigma said it had secured funding terms with Curlew Student Trust, a new funding partner, and the scheme will comprise 28,000 square feet of retail and leisure units including a 101-bedroom hotel, pre-let to Premier Inn, and a 412-bedroom student accommodation building.

The scheme is part of Sigma’s long standing partnership with Liverpool City Council, Regeneration Liverpool.

Sigma said its commercial development partner, Neptune Developments Limited, will commence construction before the end of the year, with planning permission having already been obtained in August 2015.  

Graham Barnet, chief executive of Sigma, said: “I am delighted to announce that we have secured funding for this major redevelopment in the heart of Liverpool, next to Lime Street Station, and would like to thank our partner, Neptune Developments, for all their efforts in managing the development aspects of the project on behalf of our partnership.

“The scheme forms part of the regeneration of the Lime Street and Knowledge Quarter areas, a project which is seen as a flagship development for the city.

“Together with our partner, Neptune Developments, we are delighted to help realise another objective in Liverpool City Council’s broader regeneration aims.”

Steve Parry, Managing Director of Neptune Developments, commented: “We are very pleased to commence the redevelopment of the area around Lime Street Station.

“The scheme forms the first phase of our Knowledge Quarter project and will have a major impact on the gateway to Liverpool City Centre.

“We are aiming to bring exciting new retail and leisure operators to the area and we are already making good progress in negotiations with a number of parties.

“We very much look forward to realising our efforts and creating a vibrant new neighbourhood in Liverpool.”