Client
Peel Waters
Expertise
Economics
Location
North West
Project overview
Peel Waters was seeking £8 million in forward funding from Liverpool Combined Authority to support the preparation and remediation of a large brownfield site in Merseyside for its Mea Park West scheme at Wirral Waters.
The site sits within the designated Liverpool City Region Freeport zone and can accommodate 15,922 sqm of new and 3,902 sqm of refurbished industrial space.
Peel brought in Pegasus to help prepare the business case to support the funding application.
The challenge
A central challenge was demonstrating net additional economic benefits in the form of new jobs and stimulating wider economic growth which could be unlocked through grant funding.
The application needed to be Green Book-compliant and support Liverpool Combined Authority’s economic growth plans.
Pegasus’ work on the economic case also had to sit alongside and support the strategic component within the business case.
The solution
The Pegasus team played a critical friend role reviewing, streamlining and stress-testing the proposed benefits and ensuring the evidence and methodology matched public sector requirements.
It was important to demonstrate that the economic activity generated by MEA Park West was genuine growth and not simply businesses relocating from within the area.
Pegasus looked for strong evidence, including researching Peel’s list of interested tenants to better understand the value add and alignment with the region’s strategic economic goals.
The team also guided Peel through compliance with the Green Book process, ensuring that the evidence collected was robust enough for future monitoring of job creation, investment, and regional impact targets.
Pegasus’ work supported Peel’s successful application for the £8 million funding.
Client testimonial
Charlotte Glynn, Partnerships Manager at Peel Waters commented; “The support provided by Pegasus Group for the Business Case helped our team unlock the funding and demonstrate Value for Money and highlight the wider economic benefits associated with the project.”
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Image credit: Broadway Malyan