“Development of the site will allow Liverpool to secure large-scale civil service or corporate relocations attracted by the city’s competitive cost base and overall quality of life.

“The strategic significance of the Pall Mall site is underpinned by strong public policy commitment.”

A masterplan for the site has already been included in Liverpool Council’s planning blueprint. It is also recognised as a regional strategic site by the NWDA, giving it priority access to public funding and support.

In recent years, Liverpool’s business core has expanded into a new address between Old Hall Street and Pall Mall built around the successful St Paul’s Square development.

Mr Gill added: “The continuing modernisation of the Liverpool’s building stock, and the completion of the St Paul’s Square development, have created a world-class business destination and an environment in which business can flourish.

“Liverpool has significant attractions for developers and occupiersŠ– access to a quality workforce, excellent public transport systems, strong links to a retail offer ranked in the top five in the UK, in a Capital of Culture which, for quality of life, knocks the spots off other UK cities.”