From the Wavertree Society's Newsletter 134, January 2001:
BLUE COAT UPDATE
We were pleased to learn that an Agreement has now been drawn up and signed by representatives of the City Council, the Governing Body and the Liverpool Blue Coat School Foundation.
We understand that the currently-favoured proposal is to retain the front part of the building - including the Chapel and Clock Tower - as it is, to sell off the South Wing for conversion to residential apartments, and to re-model the rest of the building to create a 'new' school meeting the requirements of the DfEE and the National Curriculum.
All of this is subject to government approval, and in particular its willingness to release the funding (previously agreed) over a longer time-period than originally envisaged.