6.15
Past trends are not only a reliable source to estimate future capacity but can guide what level of such development can be sustained. The Annual Monitoring Report (2010) produced by Liverpool City Council found that between 2005 and 2010 between 314,860 sq.m of B1 (a) office space was developed, which equates to circa 63,000 sq.m per annum. Liverpool Waters would represent just 5 years supply based on past trends. However, the proposed level of B1 uses at LW will be phased over a 30 year implementation period, which s would still provide sufficient scope for other new B1 space to be directed towards the City Centre and elsewhere.
6.16
Against this current positive context, the socio-economic assessment in the ES has provided a number of economic scenarios for new growth and demand for office accommodation over the project period drawing on evidence from Economic Forecasts . These economic scenarios examine demand over the whole of the Liverpool City Region and the proposed maximum level of office accommodation in LW is well within the estimated parameters of growth expected in the longer term.
6.17
It is clear from both economic forecasts and past trends that the level of annualised office accommodation proposed at LW will help satisfy the demand for office accommodation in the City region in a sustainable location. The scale of development is well below that previously been delivered within the city centre as a whole and therefore is considered appropriate and in accordance with the development plan aspirations.
Impact on Office Development 6.18
Drawing on the socio-economic chapter of the ES it has been demonstrated that the employment impacts of LW across the region will include: •
Impact on local employment in North Liverpool and Liverpool will be substantially positive, as it raises educational attainment, skills levels and employability as well as major beneficial effect which is significant;
•
Impact on Greater Merseyside will be substantially positive, with major beneficial effect which is significant
•
Impact on the north-west will be moderately positive and result in an intermediate beneficial effect which is significant.
Liverpool Waters Retail, Leisure and Office Statement - November 2011
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