Plans to convert the former ABC cinema building on Lime Street into a new live music venue could be about to move a step closer.

The project will be discussed at a Liverpool City Council cabinet meeting on 16 December where members will open discussions about a potential land lease agreement to pave the way for the development.

The report recommends that the vacant building be sold to developer Neptune Developments in a move that could put the project on the fast-track to completion.

It also confirms that two unnamed companies are in the running to operate the new music venue.

Neptune’s preliminary plans to bring the vacant ABC back into use include the opening of a music venue of “international standing” holding crowds of 1,500 at the site, along with broadcast TV studios, bars and restaurants.

The proposals will tie in with the developer’s wider scheme to regenerate Lime Street with the creation of new retail space and leisure provision, student accommodation and a new Premier Inn hotel.

The report to be presented at the council meeting has been complied to “inform cabinet of the proposals and to agree heads of terms and seek authority to enter into legal agreements for the disposal of the council’s land by lease and enable the redevelopment of a further part of Lime Street to progress.”

It reads: “This scheme will contribute to the aim of creating 20,000 jobs. A potential mixed-use development will enhance the opportunities for new jobs and employment.

“This scheme will continue the transformation of Liverpool into one of the most attractive visitor destination and business/enterprise friendly cities in the UK. The scheme will also contribute to increasing local economy and employment opportunities for local people.”

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