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Liverpool’s St. Paul’s Square Commercial scheme will continue forward as the third phase funding has been provided to the English Cities Fund by the Northwest Development Agency (NWDA).

The new development project which is past planning and permission phases is aimed at providing new office space to the city centre market of Liverpool, 109,000 sq ft of top notch office space to be exact.

The funding is good news for those concerned with the development of the Liverpool commercial district given that property agents have issued warnings that Liverpool will miss out on investment opportunities if the area is not able to produce new office space for interested inward parties.

Jim Gill, the Liverpool Vision chief executive, said that the goal of the group is to drive commercial opportunities within the city and the St. Paul’s Square development is a dominant step towards the completion of the group’s vision. The advice and information provided by professional firms such a Claremont Group Interiors can be invaluable at such times for firms during commercial and office relocation.

The gap funding by the NWDA provided the developers with relief as the project was stalled due to the current drop in market conditions since the proposal of the project and there was large speculation regarding if the project could be completed with the current economy restrictions.

Although the NWDA has not yet officially confirmed that they will provide the £3 million needed to proceed, a spokeswoman for the company said that the agreement was being finalized and an announcement is coming.