A new events and exhibition space has been launched in the Baltic Triangle area of the city with backing from Merseyside Special Investment Fund (MSIF).
MSIF has provided £59.5k as part of a £149k package to Greenland Venue Management (UK) Limited to open a new venue in the heart of Liverpool’s creative hub.
Constellations, on Greenland Street in the Baltic Triangle, combines events and exhibition space with a design studio and workspace which can be used by creative entrepreneurs and businesses.
The funding has been used to renovate the venue which includes a 12,000ft events space, a smaller events area, café bar and a design studio which includes desks, creative studio space, a screen print workshop, photographic studio and dark room facilities.
Constellations has already hosted a range of events from large scale club nights, live music events and exhibitions including Liverpool Music Week & Fiesta and the Liverpool CraftBeer Expo which attracted around 3000 people.
The business is run by directors Rebecca Pope, Nicholas Baskerville, Andrew Vose and Paul Sieffert.
Rebecca Pope said: “For the Baltic Triangle to continue to grow with the momentum it has in the last 5 years it is vital we have more creative space and places for residents, businesses and visitors to come together. We want to see artists emerging, photographers developing and new products burgeoning from our multi-use space.”
“We’re about to launch our exhibition programme which will feature a new artist every month. We have also been booked for private event including weddings as the venue is proving really popular with people seeking an alternative venue for their special day”
Nicholas Baskerville added: “We’ve got a hugely talented team and a hoard of professional connections that we’ve built up over the years."
“Our huge indoor and outdoor spaces allow us to cater for just about event we can do just about anything."
“We discussed a number of funding options but more often than not, because we’re a start-up business, the risks were too high and we didn’t tick the right boxes."
“MSIF were different and really easy to work with, they gave us some great support to get the loan we needed to restore the building. Since opening, the revenue we have generated has been reinvested and Constellations continues to evolve.”
Andy Jones, an investment manager at MSIF said: “The team at Constellations are passionate about supporting local creative businesses and wanted to address the shortage of workspaces for the creative sector following the rapid regeneration of the Baltic Triangle area.
“They also wanted to help attract visitors to the city through events and have designed the venue to host events large and small. Constellations now boasts one of Liverpool’s largest events space and has hosted events attracting thousands of people."
“The management team is diverse with complimentary skillsets which are important when running a business. We are very pleased to be supporting them.”
Constellations currently employ 27 staff. Turnover for this financial year is expected to reach £450k.
This Regional Growth Fund programme is provided through the Community Development Finance Association. It provides loans to small, micro and social enterprises across England through the community finance sector. £30million of funding is provided by the Government’s Regional Growth Fund, matched with a further £30 million by the Co-operative Bank and Unity Trust Bank.
MSIF is an approved delivery partner for the Start Up Loans Programme. The government-funded scheme provides loans to assist with start-up costs as well as free mentoring support, and exclusive business offers from partners such as Regus, Paypal, eBay and Intuit.