The Chrysalis Fund is a £35 million revolving fund that has supported more than £100m worth of development activity in the region since it launched in 2012. The fund will:
The LCR Urban Development Fund is a £25 million revolving fund managed under the LCR Combined Authority’s Strategic Investment Fund framework.
The fund supports the development and delivery of an integrated approach across LCR, which focusses on meeting identified local needs and opportunities. The fund can invest in projects that support:
Both funds are now actively inviting developers and landlords with new development projects that meet their investment criteria to come forward and apply for loans.
In November 2020, an £8.4m joint loan between the LCR Urban Development Fund and the Chrysalis Fund into Project Violet unlocked the next phase of speculative development at Sci-Tech Daresbury, Halton. The £17.8m investment will enable the delivery of a 42,000 sq ft Grade A office and innovation space featuring the highest energy efficiency standards, for dynamic, forward-thinking science and technology focused businesses.
The proposed scheme will see the construction of an 18,000 sq ft and two 12,000 sq ft buildings, which will each be three storeys high, situated at the gateway of the campus on Innovation Way. Each building will provide floor plates of around 3,500 to 6,000 sq ft and as part of the work there will be major landscaping improvements around the site.
A £11.5m loan to a world class life science hub in Liverpool marked a key milestone for the Chrysalis Fund. Not only was it the largest commitment made by the fund to date, but it also enabled a new chapter in the city’s history – the opportunity to lead the global fight in antibiotic resistance.
The new £25m Liverpool Life Sciences Accelerator co-locates the Royal Liverpool and Broadgreen University Hospitals NHS Trust, the Liverpool School of Tropical Medicine (LSTM) and a raft of relevant SMEs for large scale industrial collaboration and product development partnerships.
In November 2014, confidence in the Liverpool City Region’s industrial sector was boosted as work commenced on a £6 million speculative warehouse development on Knowsley Industrial Park. This marked a significant step for the region ahead of the opening of Liverpool’s new super-port freight terminal.
The Chrysalis Fund provided a £2.4 million loan toward the £6 million project to developer Fintan Earley as part of its continuing commitment to support economic growth in the Merseyside area.
The Chrysalis Fund is supported by the 2007-2013 European Regional Development Fund for the North West under the Joint European Support for Sustainable Investment in City Areas (“JESSICA”) programme.
The LCR Urban Development Fund is backed by the 2014-2020 ERDF England Operational Programme and it is a new funding route to foster smart, sustainable and inclusive growth for our Liverpool City Region.