Liverpool City Council (LCC) has approved outline plans put forward by Peel Holdings for the £5.5bn Liverpool Waters development, which is poised to transform former docklands.

The mixed-use project will create more than 14 million sq ft (1.3 million sq m) of floorspace and will include a cultural building; a cruise liner terminal; and a number of restaurants.

Peel's plans also include the 55-storey Shanghai Tower, which will be the tallest building in the UK outside London. The proposals have now been referred to the government.

Liverpool Waters will complement a similar project on the other side of the River Mersey - Wirral Waters - but fears have been raised it might affect the docklands' heritage value.

LCC leader Joe Anderson said: "The scale of what is being proposed is breath-taking - it represents a £5.5bn investment to create thousands of jobs, provide new housing and attract new businesses and more visitors to the city.

"The decision is for future generations. The new investment, businesses and employment opportunities Liverpool Waters will bring is the future for our city."

Details: www.liverpoolwaters.co.uk