Plans for the £5.5bn redevelopment of an area of disused docklands in Liverpool have been submitted to the local council by Manchester-based developer Peel Holdings.

Liverpool Waters will comprise more than 14 million sq ft (1.3 million sq m) of mixed-use floor space and will complement a similar project on the other side of the River Mersey - Wirral Waters. Covering 150 acres (60.7 hectares) of former docklands, the scheme will include a cultural building; a cruise terminal; restaurants and the 55-storey Shanghai Tower - the tallest UK building outside London.

More than 9,000 homes and office space are also proposed as part of the Liverpool Waters planning application, which has been led by consultants WYG under the guidance of Peel. The Commission for Architecture and the Built Environment (CABE), Liverpool City Council (LCC), English Heritage and local community groups have been consulted as part of the planning process.

Meanwhile, Peel also said it had worked to ensure historical features are conserved as part of the project, with part of the Liverpool Waters site located within a World Heritage Site. Peel development director Lindsey Ashworth said: "It is a fantastic and almost unbelievable achievement to get a scheme of this scale and nature to a point where a planning application can be submitted.

"It's been very difficult to get a general consensus of agreement but we have managed this because all the stakeholders are proud of Liverpool and want this project to be delivered and therefore have made massive efforts to get it to this stage." LCC leader Joe Anderson added: "Liverpool Waters is a hugely ambitious and exciting scheme which has the potential to bring about the transformation of an area which has been in need of regeneration for decades."

Peel's Wirral Waters development has already been given the green light by Wirral Council, but the scale of the scheme now means that the secretary of state will have to decide whether to call-in the plans.