THE MULTI-MILLIONAIRE tycoon who owns Liverpool’s Edge Lane retail park is set to give it to charity.

Albert Gubay, who made his fortune with the Kwik Save supermarket chain, will put the 100-acre site into a charitable foundation.

The foundation, which could be worth up to £1billion, will aim to generate at least £20m each year for good causes.

Mr Gubay is planning to donate his entire empire – which includes Edge Lane’s owner Derwent Holdings Limited – to the fund.

In January Mr Gubay’s firm signed a deal with Liverpool City Council which should see £200m invested in the site, with 600,000 sq ft of new shops, a new Victorian-style park and an extension to Mersey Care’s Rathbone Hospital.

Mr Gubay’s property holdings on Edge Lane included the Ian Skelly garage and the Travellers Rest pub.

But they were among sites which fell into disrepair and a number became some of the the city’s most notorious grot spots.

Mr Gubay and Liverpool City Council traded blows over the future of the sites and squared up in court.

Such was his desperation to re-build Edge Lane Retail Park that in 2008 he offered to plug a forecast £20m black hole in the council’s Capital of Culture budget in return for getting planning permission.

The Isle of Man-based businessman, who was ranked 107th in last year’s Sunday Times Rich List, says he will spend the rest of his life working to make sure the fund reached its £1billion target.

Mr Gubay, 82, said: “I want to carry on supporting good causes, but my whole focus in the next few years is to work as hard as I can to meet my target of a £1billion charity.

“Every penny wasted or lost reduces the pot available to the charity.”