AN EXHIBITION hall planned as an extension to Liverpool’s Echo Arena and BT Convention Centre would cost at least £45m, the Daily Post can reveal.

City council officials are now exploring funding options for the centre which is to be made up of three interconnected halls on the Kings Dock waterfront. The complex would boast 8,000 sq metres of floor space – the equivalent to two football pitches.

City leader Warren Bradley said raising the money was an issue, but insisted it was not a pipe dream.

It is understood the £45m price tag is an initial estimate and the final price could vary.

In March it was revealed city leaders were looking at the plan after the collapse of David McLean Homes and City Lofts which were due to build 425 apartments on the site.

Talks are ongoing with regeneration agency Liverpool Vision and the Homes and Communities Agency (HCA) which now owns the site.

Due to its proximity to the Echo Arena and BT Convention Centre, the site is seen as an ideal location for an exhibition hall – making use of the waterfront for conferences even more attractive.

Another hotel is also being considered for the site.

Cllr Bradley said: “We have had some initial drawings done and some feasibility work done around it. It’s a great opportunity. But the funding is a big issue.

“The success of the Arena and Convention Centre can only be a good thing in the development of this new exhibition centre that we want to put alongside it.

“The Arena board have had a look at it and we are now out to the market to see if we can get funding.”