The Northern Ireland based developer wants to transform  a 50-acre vehicle storage yard next to the New Mersey Retail Park, in Speke Road, Speke.

Benmore’s plans include a multi-screen cinema, restaurants, a gym and hotels. It is understood the firm already has a number of companies lined up to take space in the project.

Benmore wants to submit a planning application during the summer, with the possibility of it being discussed by Liverpool council’s planning committee before the end of the year.

David Burrows, chief executive at Benmore, told the Liverpool Echo: “The principle of this development is wholly positive for the ongoing renaissance of the Speke and Garston area.

“It will complement existing developments and bring activity to the area during the evenings.”

The firm is launching a consultation exercise with local people including a website detailing its vision and a series of roadshows outlining the plans.

Liverpool council leader Joe Anderson said: “Such major investment from the private sector is extremely welcome in the current economic climate.”