The renaissance of Merseyside, in the north-west of England, as a maritime centre is set for another boost — and for once, the term "renaissance" is more than just a colourful reference.

A new maritime training, innovation and business incubator is planned for the Wirral, across the River Mersey from Liverpool.

It will be housed in a renovated Victorian building that survived bombing in World War II and which is a remarkable copy of the Palazzo Vecchio in Florence, albeit in a slightly greyer climate.

Some £20m is to be invested in a Maritime Knowledge Hub in the historic Hydraulic Tower with the backing of the local government, Liverpool John Moores University, and port and landowner Peel Group. It is due to open in 2020.

The Liverpool region generates about £3.5bn ($4.8bn) annually from one of Europe’s largest clusters of maritime businesses, totalling about 1,300 companies.

Liverpool City Region Metro Mayor Steve Rotheram said: “This international centre of excellence at Wirral Waters will help drive the development of the city region’s marine and maritime sector and will support our ambition to be self-reliant on renewable energy by 2050. “It’s further evidence that we are aligning our economic, industrial and skills strategies in a way to deliver a step change in growth and prosperity.”

Mersey Maritime chief executive Chris Shirling-Rooke said: “This will be a real game-changer, not just for the maritime sector but for the whole city region economy. We can be in the vanguard of Britain’s post-Brexit push for a bigger slice of global trade.”