Plans for the restoration of the gardens at Liverpool's former International Garden Festival site have been handed a £2.1m funding boost by the Northwest Regional Development Agency (NWDA).

Merseyside-based developer Langtree is behind the proposed redevelopment of the site, which aims to transform the site – which has remained derelict for the past 25 years – into a major new visitor attraction. The first phase of the International Garden Festival site scheme will include restoration work on the Chinese garden, the Japanese gardens, the lakes and associated watercourses and the woodland sculpture trails.

Liverpool City Council (LCC), the Land Restoration Trust and Mersey Waterfront are also involved with the scheme, which is also in line to receive £1.6m from the Northwest European Regional Development Fund. Steven Broomhead, NWDA chief executive, said: "The agency is working closely with our partners to take forward the redevelopment of this site, which has the potential to create a major visitor attraction of international significance.

"We are currently in the final stages of negotiations regarding our investment into the project to enable Langtree to take forward the regeneration of the site." Langtree managing director John Downes, added: "The agency's investment will also cover the management and maintenance of the park for five years, within which time it is anticipated that we will be able to commence development on the balance of the site and secure its long-term future."