Davos Property Developments to push ahead at schemes on stalled Liverpool sites

The development arm of the company behind Home Bargains has secured approval for more than 250 new homes across Liverpool city centre. Davos Property Developments is to move forward on the development of two stalled sites after winning over the local authority’s planning committee.

The company, which handles the property arm of TJ Morris, has been granted permission for a 13 storey tower near the proposed £100m Baltic Triangle Merseyrail station. Almost 200 one and two-bed homes will be built on land bounded by St James Street, Greenland Street, New Bird Street and the former LeeFloorstok warehouse.

Davos, which has already secured significant approvals within the Kings development, will also deliver plans for an additional 59 units at Blundell Street, Kitchen Street and Simpson Street. Matthew Sobic, on behalf of the applicant, addressed councillors at Liverpool Town Hall.

Regarding the Baltic Triangle application, Mr Sobic said it was one of several high profile stalled sites in the city. He added: “Today the site is derelict, enclosed by hoardings, affected by flyposting and graffiti and unmanaged vegetation.

“It makes no positive contribution to the area.” Alongside 199 homes, the proposal will provide co-working space, ground floor commercial units and residents’ amenities, such as a gym and rooftop terraces.

The designs draw on the Victorian industrial heritage of the area, with its vertical proportions, deep window reveals and iron detailing. Mr Sobic added how the proposal will “meet increasing demand for inner city living in one of Liverpool’s most sustainable neighbourhoods” and it would “create a genuine neighbourhood rather than simply a building”.

It was cleared in 2018, and has since been used as a surface car park. A total of 89 one-bed apartments will be delivered alongside a further 110 two-bed homes and townhouses.

Mr Sobic said the development was the “best possible future for this site” and there was a “strong ambition and will to invest and regenerate in the city centre” by Davos. The company also secured permission for work to begin on almost 60 further properties at Blundell Street, Kitchen Street and Simpson Street.

The scheme will include the construction of a part eight/part six storey building with a two storey bridge link at first and second floor levels between the new block and a retained three storey warehouse. It would provide three commercial units on the ground floor.

Mr Sobic said the existing warehouse would be retained in a creative way and revitalise “another stalled site where planning permission had been approved”.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

Tata Investment Corporation reported a sharp jump in its March quarter earnings, with net profit rising 69% year-on-year (YoY) to Rs 63.83 crore, compared with Rs 37.72 crore in the same period last year. Revenue from operations saw an even stronger expansion, climbing 143% YoY to Rs 39.98 crore from Rs 16.43 crore, driven by higher dividend income and gains from investments.

Dividend income stood at Rs 25.54 crore during the quarter, while interest income came in at Rs 9.88 crore. The company also reported a turnaround in fair value changes, posting a gain of Rs 1.01 crore versus a loss in the year-ago period.

Total income rose to Rs 42.16 crore from Rs 16.61 crore a year earlier, reflecting strong portfolio performance amid market volatility. Tax expenses declined significantly during the quarter, further aiding net profit growth.

Total expenses increased modestly to Rs 11.69 crore from Rs 10.02 crore in the year-ago quarter. Employee benefit costs and other expenses saw a slight uptick, but remained broadly stable relative to income growth.

The board has recommended a dividend of Rs 3.4 per share (340%) on a face value of Rs 1 per share. The dividend will be paid after shareholder approval at the upcoming annual general meeting.

For the full year ended March 2026, profit after tax rose to Rs 433.68 crore from Rs 312.09 crore in the previous year, while total income increased to Rs 403.47 crore from Rs 306.22 crore.

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Jeff Bezos is on the cusp of sealing one of the most eye-watering early-stage fundraisings the artificial intelligence sector has yet produced, with his nascent physical AI laboratory, Project Prometheus, reportedly closing in on a $10bn (£7.9bn) round that would value the venture at $38bn.

The Financial Times, citing people familiar with the matter, reported on Monday that BlackRock and JPMorgan are among the institutional heavyweights that have signed up to the round, though the transaction has yet to be finalised. BlackRock declined to comment. The fundraising, if completed at the mooted terms, would place Prometheus among the most richly valued early-stage AI businesses on the planet, less than six months after it emerged from stealth.

Launched quietly in November 2025 with $6.2bn of initial backing, Prometheus is chasing a very different thesis to the generative AI giants that have dominated the investment cycle since ChatGPT arrived in late 2022. Rather than training ever-larger language models on the internet’s text and imagery, it is building systems that can reason about the physical world itself, materials, tolerances, processes and the immutable laws of physics. The stated target markets are engineering, manufacturing, aerospace, robotics, drug discovery and logistics automation, sectors where large language models have, so far, made only glancing contact.

Running the show on a day-to-day basis is chief executive Vikram Bajaj, a former Google X scientist and co-founder of Foresite Labs. The lab has swelled to more than 120 staff, poached from the likes of OpenAI, xAI, Meta and DeepMind. Bezos, described as one of the initial backers, has been leading the fundraising alongside Bajaj, and, notably, has taken an operational role in the business. It is the first time the Amazon founder has rolled up his sleeves at a technology company since stepping down from the chief executive’s chair at the group he built in 2021.

The timing is striking. Prometheus’s raise is landing only days after Amazon itself committed up to $25bn of fresh investment in Anthropic, securing in return a $100bn cloud-spending pledge from the Claude-maker, a transaction that underlined quite how dramatically the scale of AI infrastructure deals has shifted. A $10bn round for a six-month-old laboratory would, for perspective, exceed the lifetime fundraising of most AI companies in existence.

Why are institutions the size of BlackRock and JPMorgan prepared to write cheques of that magnitude into an unproven venture? The answer lies in the peculiar economics of physical AI. Unlike the vast quantities of cheap, publicly available text and code that power today’s language models, the data needed to teach a machine how steel fatigues, how a drug molecule binds or how a robotic arm should pick a part is proprietary, scarce and devilishly expensive to gather at scale. That scarcity is itself a moat, and accumulating it early may confer a durable advantage on whichever laboratories manage it first.

For Britain’s small and mid-sized manufacturers, aerospace suppliers and life sciences specialists, many of whom already sit on decades of unique operational data, the emergence of a well-capitalised Bezos-backed laboratory is a development worth watching. If Prometheus delivers on its ambitions, the model for applying AI to the industrial economy will not be built on the back of scraped web pages but on partnerships with the firms that actually make, mend and move things.

That, of course, is a sizeable “if”. Prometheus has yet to publicly demonstrate a product, let alone a commercial deployment, and the lab remains firmly in its early phase. Plenty of sceptics will also point out that the broader AI market is wearing increasingly frothy valuations. Peter Fedoročko, chief technology officer at analytics firm GoodData, takes a measured view. “Yes, AI has a bubble, but the technology is real,” he argues. “When dot-com crashed, the internet didn’t disappear, it became infrastructure. The same thing happens here. The dot-com crash took a decade to recover financially, but the internet reshaped everything during that time. It didn’t wipe out jobs; it transformed them. AI follows the same pattern. Once the hype burns off, the real builders get back to work.”

For Bezos, the calculation is simpler. Having built the world’s largest logistics and cloud empire on the back of an earlier technological wave, he is now betting, in person and in size, that the next one will be written not in pixels and prose, but in physics.

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