X1 acquires The Quarter development site
LIVERPOOL developer X1 Developments has acquired 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.
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.
X1 wants an additional 430 apartments at the site and says it has started on an 89 apartment block called The Courtyard. Three further blocks with a total of 340 apartments will be built in three stages, completing in 2017.
Salford-based Knight Knox, owned by Jeremy Knight and Owen Knox, has been appointed to market the accommodation. Head of marketing Samantha Jones said: “Liverpool is an area in which we hold a particularly strong presence having recently launched Merebank Court, in addition to other developments including X1 Arndale House and X1 Borden Court.”
Last summer administrators at BDO put the site on the market for around £6.6m.
