A PROPERTY firm backed by footie stars Mikel Arteta and Luis Suarez could owe £1.2million to a cash-strapped council.
The firm, linked to some of the biggest names in world football including Uruguay ace Suarez, borrowed £1.25m from Liverpool City Council.
Littlewoods Investment LLP used the council’s cash to transform an old industrial building in Liverpool into a trendy office block named the Bunker.
The Bunker, previously described as the “UK’s most stylish” office, formed the first part of the regeneration of the famous Littlewoods site next door.
Council bosses want to transform Liverpool into the “Hollywood of the North” and there are hopes that Littlewoods, a sprawling art deco building, can be a part of that vision.
The team behind The Batman starring Robert Pattinson recently handpicked the city famous for its Gothic architecture as a filming location.
Arteta, who now manages Premier League leaders Arsenal, joined Littlewoods Investment LLP in 2013.
There is no suggestion Arteta, the company or those involved have done anything wrong.
Companies House describes Arteta as the person of significant control in the LLP.
Former Liverpool and Barcelona striker Luis Suarez joined the firm in 2013, when the Uruguay international played for Liverpool FC.
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Ex-Arsenal player Santiago Cazorla and former Liverpool player Pezzini Leiva also joined Littlewoods Investment in 2013.
Arteta, Suarez, Cazorla and Leiva have all played for some of the biggest clubs in the world and are respected figures in world sport.
Tim Heatley and Adam Higgins, co-founders of regeneration company Capital and Centric, are also designated members.
Documents filed to Companies House reveal that Liverpool City Council (LCC) granted the loan to Littlewoods Investment LLP in 2013 and charged the company an interest rate of six per cent.
The public documents suggest that the loan should be paid back within seven years and one month of the project’s completion.
LCC, in response to a Freedom of Information Act request, confirmed the loan had not at that point been paid back. Companies House also states that the loan is outstanding.
The Sun contacted both parties to confirm the current status of the loan, but could not get any details.
‘HOLLYWOOD OF THE NORTH’
The Bunker building was completed in 2015 by regeneration firm Capital and Centric.
The scheme was partly funded by the European Regional Development Fund.
The high-tech work space which features super-fast broadband sits next to Littlewoods Building which was ravaged by a massive blaze in 2018.
A local icon, which opened in the late 1930s, it was the flagship of the Littlewoods Pools empire.
The art-deco unit with a facade nearly one kilometre wide was convened during the war when parachutes and other supplies were made there.
LCC is now driving plans to turn the site into a film studio.
The plans will create thousands of local jobs and revive the site which has been derelict for years.
The city’s Metro authority and council have agreed to inject around £17m into the ambitious scheme which would boost the city’s chances of becoming the “Hollywood of the North.”
The city’s historic locations and scenic waterfront have been the backdrop for massive movies including Marvel’s Captain America: The First Avenger.
Speaking about the site last December Steve Rotheram, Metro Mayor Liverpool City Region, said: “Our area has become a magnet for film and TV productions from around the world in recent years – making us the UK’s most filmed location outside of London.
“But I want to take our region to the next level, to stake our claim as the ‘Hollywood of the North’.
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“The £17m we’re investing into both Littlewoods and The Depot will be central in turning that ambition into a reality – helping us to cater for every stage of the production process and creating new jobs and training opportunities for local people.
“I can’t wait to see work start on the project.”
Source: Soccer - thesun.co.uk
