Everton Stadium Development, a subsidiary of Everton Football Club, and Peel Land and Property (Ports) signed an agreement under which the club will lease land at Bramley Moore Dock, Liverpool Waters, for the construction of a new stadium.
The lease will be for a period of 200 years at a nominal rent and is subject to obtaining planning consent for the stadium and securing funding for its construction.
The signing of the agreement gives Everton control over the land where the stadium will be built.
The proposed stadium is expected to give a fillip to the £5.5bn regeneration proposals for North Liverpool and help accelerate Peel Land and Property’s Liverpool Waters development.
In addition to a waterfront cultural complex, leisure amenities and facilities, two new river terminals – a new cruise liner facility and the Isle of Man ferry terminal, and office and residential developments are also planned.
According to CBRE, the adviser to Everton, a new stadium at Bramley Moore is expected to provide a £1bn boost to Liverpool’s economy, with a contribution of over £900m to the region even before the completion of the stadium.
Over £255m is likely to be spent through local supply chains during the construction phase, create 15,000 jobs for local people after construction and fetch £94m to the city annually through hotel occupancy, retail and tourism.
Iain Gamble and Luke Taylor at Brabners advised Peel on all property matters and Colette McCormack at Winckworth Sherwood advised on planning aspects of the deal.
Everton Football Club chief executive Robert Elstone said: “Clearly, this is very positive news. Gaining control of the site was essential for us to be able to move forward with the next stages of the project – finalising the funding agreement with the Council and preparing for the submission of a planning application – both of which we hope to do in the New Year.”