The North West Liverpool City Region Freeport
• VAT suspension until goods enter circulation in UK • Duty referral for goods stored on site • Duty inversion for goods exiting the Freeport • Duty exemption for goods exported from Freeport
Working alongside colleagues within LCR Combined Authority, the Freeport Management Team are well resourced to meet the demands an increase in trade and investment will
bring, and
have developed projects along key pillars of Innovation, Skills and Employment, Security and Regeneration. Through Freeport support and enhancement of the cities infrastructure these businesses can be assured of innovative solutions to the complexities of modern trade and logistics, a talent pool of local residents readily primed for employment in critical roles, reputationally sound trading routes offering multi-modality at its heart and the benefit of newly developed built environment, place and space in the surrounding areas.
In short, LCR Freeport provides a business no-brainer for those seeking to expand current operations or establish a new hub / site whilst most importantly offering a competitive advantage over locations without this unique status.
The opportunity is here... To be a part of the Freeport journey please contact Programme Manager –
Alex Clark
alexandra.clark@
liverpoolcityregion-ca.gov.uk
Liverpool City Region (LCR) Freeport is one of eight Freeports across England. Recent approval of a further two Scottish GreenPorts and two in Wales provide a UK portfolio scaled to deliver a breadth of new opportunities.
Ultimately Freeports are a variant of Special Economic Zones (SEZ) designed to enhance trade and investment; promote regeneration and job creation; and create dynamic environments for innovative activity.
With each Freeport boasting their own unique geography, demographics and natural trade links, LCR Freeport seeks to build on the region’s proud history of Trans-Atlantic trade as well as capitalising on new emerging foreign markets and post-Brexit trade partnerships.
Central to establishing this new trade and investment is the development of three ‘Tax Sites’, namely Wirral Waters, Mersey Multi-Modal Gateway (3MG) and Parkside. These sites, provide new strategic locations for businesses to operate and in doing so unlocking huge fiscal savings through taxation incentives including;
• Business Rates Relief at 100% Business Rates relief for new properties / partial for existing until 2026
• Stamp Duty Land Tax (SDLT) at 0% to 2026
• Employer National Insurance Contributions (NICs) for salaries up to £25k for 3 years
• Enhanced Structures and Building Allowance at 10% deduction p.a. up to 2026
• Enhanced Capital Allowances at 100% first year, for plant & machinery; 10% deduction p.a.
In addition to the incentives above, businesses operating outside of the 3 tax sites can apply via HMRC (supported by LCR Freeport’s Head of Customs) to become a Customs Site Operator, a unique ‘Trusted Trader’ status which again offers a suite of benefits and simplifications that can galvanise business growth for businesses importing / exporting goods;
• Trade benefits - access to simplified imports procedures arrangements 56
Sale and Planned Refurb of Central Liverpool Office Building
The sale and planned refurbishment of a prominent Liverpool office building
demonstrates the
increasing demand for high-quality accommodation from occupiers, a leading property expert has said. Dale House on Dale Street has been sold to Madre Holdings Ltd on behalf of the former owner by the Liverpool office of property consultancy Fisher German, which merged with Matthews & Goodman LLP in 2022.
Dale House’s office space will be refurbished by Madre Holdings to a high standard, including the reception area being completely revamped, and offices having new windows, carpets, and LED lighting.
Gabriel Davies of Fisher German, who negotiated the sale, said: “Office space in Liverpool’s centre is proving popular, and we’re seeing increased activity from purchasers and occupiers.
“Tenants want offices with higher-quality accommodation, and the market is shifting to reflect this with landlords refurbishing offices to attract the best tenants.
“It is great to see the market moving forward and we’re excited to see Dale House’s interior once the fit-out is complete.”
Dale House offers 6,000 sq ft of office space across four floors, with easy access to Liverpool’s central business district. For more information, contact Gabriel Davies on 0151 242 8960 or email
gabriel.davies@fishergerman.co.uk
COMMERCIAL PROPERTY MONTHLY 2023
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