Former retail store and car park site comes to market, with substantial potential

A former Taskers retail store and car park site in Liverpool, with redevelopment opportunities, has been brought to market. No guide price has been issued.

CBRE’s Office Agency and Development & Residential teams have been instructed to sell the 4.6-acre site, which is strategically located on Wavertree Road in Edge Hill. CBRE is acting for Taskers.

The site comprises a vacant 120,000 sq ft retail warehouse, as well as associated surface level car park.

It is suitable for a broad range of alternative uses, subject to planning consent, including residential, Build to Rent (BTR), affordable housing, purpose built student accommodation (PBSA), offices, laboratory, education and hotel. Taskers will consider unconditional offers and Subject to Planning proposals.

Taskers enjoys a rich history in Liverpool, operating in the city since the 1950s and its origins trace back to Jack Tasker opening a small corner shop on Goodison Road, in Walton.

With excellent access to Liverpool city centre, the site is close to Paddington Village in The Knowledge Quarter, the 450-acre, world leading urban Innovation District which spans more than half the city centre.

The Village is home to The University of Liverpool International College and the Royal College of Physicians at The Spine, the award winning Grade A office space. It is also close to a range of amenities including more than 170 retail stores, bars/restaurants, theatre and leisure operators.

Waverlee Road is a primary strategic route and city region active travel route.

Andrew Byrne, Director, CBRE’s Office Agency team in Liverpool, said: “This represents a key opportunity to acquire a strategically-located site which is suitable for numerous redevelopment opportunities including offices and commercial.

“There has been limited levels of new build development and demand has, therefore, been restricted to existing building refurbishments. Undersupply in the Liverpool office market has seen demand levels being unmet and there remains a feeling that we need to tap into this unmet potential in the region.”

He added: “Demand in the laboratory market over the last two years has averaged 105,000 sq ft, which far outstrips current supply.

“Modern occupiers are seeking accommodation that is delivered within a well-curated ecosystem, that satisfies their demands for good location, high quality, resilient and sustainable lab facilities.

“This site opens up opportunities for the laboratory sector with the provision of lab space available very much concentrated into five principle buildings/developments/business parks with three of the five located in Liverpool city centre and within the Knowledge Quarter.”

Claire Robinson, Associate Director, CBRE’s UK Development & Residential team, said: “The Liverpool residential market has benefited from a high level of investment and development over the past decade, with the majority of new schemes situated in central Liverpool.

“There is, however, limited new development surrounding Mount Vernon Road, with the exception of the Paddington Village residential offering. This site represents an opportunity for more residential development to serve a growing population, predominantly young people aged 20-34 years, and a high proportion of renters.”

She added: “The site can also support the residential market serving students studying at the city’s five higher education institutions.

“The existing supply for student beds in Liverpool falls short of meeting the current demand with more than 10,000 PBSA beds still needed and this site has the potential to bridge that gap by providing modern amenities in a convenient location.”