The development will deliver office space alongside ground-floor retail and a new 0.5 acre greenspace.

Liverpool City Council is working with Kier Property to bring forward the first phase of the scheme, which forms part of a wider masterplan set to transform the Pall Mall area into a modern commercial destination and support long-term economic growth.

Cllr Liam Robinson, Leader of Liverpool City Council, said: “Pall Mall is a transformational opportunity for Liverpool and a key part of our ambition to deliver the high-quality commercial space needed to support a modern, growing economy.”

Mark Robinson, Senior Development Director for Kier Property, said: “Seeing this scheme move forward in partnership with Liverpool City Council is a significant achievement and a testament to the strength of our shared vision for Liverpool’s future.

“We are proud to continue working together to bring forward an exciting and transformative development that will help establish this scheme as Liverpool’s premier commercial destination. By creating a vibrant place for businesses, investment and innovation, we are supporting long-term economic growth and delivering lasting benefits for the city, its communities and future generations.”

Gary Hughes, Regional Director for VINCI Building, added: “We’re delighted to be involved in the Pall Mall regeneration project, having been appointed as preferred bidder for the scheme.  This represents a transformative investment in Liverpool’s Commercial Business District.

“Being based within the Liverpool City Region, we’re proud to bring the strength of our regional presence to the scheme through our skilled workforce, established local supply chain and strong long-standing connections across Merseyside.”