The Quarter for sale at knockdown price
ADMINISTRATORS have appointed agents to sell off The Quarter mixed-use development site at Sefton Street in Liverpool.
The waterfront development site on the corner of Sefton St and Parliament St had initially been earmarked for a £100m project by a joint venture partnership between Liverpool-based Vermont Developments and Ethel Austin Properties – both of which were later placed into administration.
It had planned a four-phase scheme that was meant to include a 173-bed four-star hotel, residential tower, offices, leisure and retail space.
However, only a 110-unit residential block known as The Gallery was ever completed – and 82 of these remain unsold. A further block containing 65 apartments and 12 townhouses was also partially built, and planning consent was gained for more than 200,000 sq ft mixed-use space on a 2.5-acre site.
Administrator BDO has now appointed CBRE North West and Allsopp Leeds to market the site for offers of over £6.65m.
The development also contains a partially-built car park with 280 secure spaces close to Liverpool’s Arena & Convention Centre.
Julian Such, associate director at CBRE, said: “The Quarter provides an opportunity to acquire a substantial development site currently producing income in excess of £635,000 per annum.
“The residential accommodation is almost fully occupied and there is an opportunity to complete the Courtyard together with the land to the north and west of the site which have prominent roadside frontage and are likely to appeal to a number of occupiers requiring highly visible locations.”
A partial sale of elements of the site will also be considered.
