CROSBY Village has been given a huge boost after Telegraph House was bought for £1million by a developer.
The building, which is a key part of the high street, has been taken over by Crossfield Exclusive Developments with plans to transform it into a new retail and housing development.
It was originally due to go to auction, but before it went under the hammer Crossfield lodged a successful bid of £1m.
Managing Director of the firm, David Cain, who is from Crosby, hopes Telegraph House could one day be worth around £15m when completed.
Mr Cain believes his plan to redevelop the prominent site will help boost the fortunes of Crosby Village, which has suffered declining visitor numbers in recent years and is likely to be affected further still by the economic impact of COVID-19.
He plans to create a new four-storey building on the site, attracting a retailer to units on the ground floor and creating one and two bedroom retirement apartments on the floors above.
Construction works on the scheme, which will be carried out by Crossfield Construction, a division of Crossfield Group, will create jobs for local people, both on site and through the supply chain.
Mr Cain said: “Crosby means a lot to me. I have happy memories of growing up here and I’ve still got plenty of family in the area.
“I know that, like many places, Crosby Village has struggled in recent years and COVID-19 will make even more of an impact on high street footfall.
“But I’m an optimist, and, as hard as it seems, we have to look forward and plan for how we can return from this situation stronger than before.
“I want to play my part in helping Moor Lane continue to be a vibrant part of Crosby, where people come to live, shop and socialise for many years to come.”
David Cain’s business partner in Crossfield Exclusive Developments, David Ayem, added: “We’re proud to be a company that invests in the areas in which we work by creating jobs, using nearby suppliers, supporting community groups and delivering schemes that are fitting for the local area.
“We want to make sure that the plans for Telegraph House are in keeping with what Crosby needs. We know that the council has identified a requirement for one and two bedroom homes suitable for older people and aim to meet that need. Likewise, we are keen that the retailer that we attract to the space fulfils a need in the Village.”