Land at 122 Old Hall Street

Liverpool L3 9PY

Overview

  • Opportunity to purchase a prime residential development opportunity
  • Situated in a prominent position to the north of Liverpool City Centre and within a short walk of Liverpool Lime Street Station
  • Well located for The Albert Dock and Liverpool One which provide an array of retail outlets and restaurants
  • Ovatus 1 has planning consent granted for 168 apartments
  • Neighbouring Kier's £200m Pall Mall development comprising a 400,000 sq ft Grade A office and 281 bedroom hotel
  • Further opportunity to acquire the adjacent site, with pre-application proposals for redevelopment for 538 apartments (further details available upon request)
  • Opportunity to create a stunning landmark for Liverpool in a location which will be a vibrant place to live, work and visit
  • Freehold

Location

Liverpool is the UK's fifth largest city. Combined with Greater Manchester the two regions are the driving force of the £149 billion North West Economy, with a population of 7 million.

Liverpool has a population of c.491,500 (ONS 2017 estimate) and a wider metropolitan borough population of 1,544,400.

The citys business and commercial environment is of the highest quality, with more than 3,000 businesses, which is also home to several major financial institutions, multinational corporations and public bodies. These include HMRC, Royal Sun Alliance, Investec, Home Office, Sony, Land Rover, Liverpool Victoria, and Barclaycard.

Due to the city's world class infrastructure, high skills base, and low cost of housing, it is identified as having more growth potential than London and many other core regional cities.

Liverpool has an estimated £10 billion development pipeline with infrastructure improvements at an all-time high, which includes transport hubs such as Liverpool Lime Street being upgraded along with consistent passenger numbers at Liverpool John Lennon Airport.

THIS IS LIVERPOOL

EDUCATION
Liverpools student population is the UK's third largest at over 50,000 across four universities, which is underpinned by its world class academic and medical institutions.

Ranked in the top 1% of universities in the world and known as one of the original six 'red brick' universities, University of Liverpool was one of the first in the world to establish departments in civic design, biochemistry and architecture. It also boasts the largest medical school in the UK and had a student growth of over 35% between 2012 and 2017.

CULTURE
Liverpool was labelled as European Capital of Culture in 2008, being internationally recognised for music and famous for the birthplace of The Beatles. The city region boasts fifteen theatres and halls and is home to the oldest surviving professional symphony orchestra in the UK, the Royal Liverpool Philharmonic Orchestra. SHOPPING / LEISURE
The city continues to attract inward investment and development, providing one of the most attractive retailing and leisure destinations in the UK. The city is a well established visitor destination and is currently the 5th most popular in the UK for overseas visitors, with 34.8m visits during 2016 (Liverpool Local Enterprise Partnership 2018).

Liverpool One is the city's prime shopping destination with over 29 million visitors per year, comprising a 1.65 million sq ft open-air retail led scheme. The scheme incorporates 170 stores, bars and restaurants, a 14-screen IMAX cinema as well as a Green Flag accredited five-acre park. Liverpool City Council report footfall in the city has increased 24% since the first phase.

SPORT
The city boasts a fantastic sporting heritage and historically the most successful footballing city in England with both Liverpool FC and Everton FC based in the city. Liverpool FC won the European Champions League in 2019, which will have a very positive contribution to the citys economic health.

Liverpool also hosts the annual Grand National Festival, bringing world class horse racing to the city and tourism worth over £30 million to the local economy. The Liverpool region is also home to England's Golf Coast, the finest stretch of championship golf in the world.

TRAVEL
Liverpool is one of the most desirable cruise destinations in Europe, following the cruise terminals opening in 2007 on Princes Dock.

Plans have been approved to construct a permanent new cruiser liner terminal on the Dock, which is expected to welcome 500 cruise ships carrying over 1 million international passengers by 2020 and generate £72 million for the local economy.

Situation

The opportunity is prominently situated at the busy junction of Old Hall Street and the A5053 Leeds Street, the property is in the heart of a prime residential location within Liverpool City Centre.

Leeds Street leads from The Strand which runs along the main waterside of the city centre to the rear of the Three Graces and Albert Dock to Scotland Road and eastwards via the A580 towards the M62 motorway. The development itself land itself can be accessed directly from Old Hall Street, or via vehicular access to the rear from Back Leeds Street.

Nearby Developments

There is now significant momentum behind plans for the immediate area with an influx of high-quality projects to be delivered in close proximity to the subject site.

This includes Kiers £200m Pall Mall scheme and will comprise:
  • 400,000 sq ft of new Grade A office space, headlined to be the new Liverpool Headquarters for BT
  • 281 bedroom hotel with associated retail and leisure amenities
  • New large scale and high quality landscaped green space and public realm.
There is also a strong pipeline of residential developments in close proximity - including Infinity Waters, The Lexicon (Moda Living) and Plaza 1821 (Regenda/Peel) further enhancing the immediate area as Liverpools prime residential location both from a sales and build-to-rent perspective.

Rail

Liverpool Lime Street provides mainline service connections to all major UK towns and cities with Manchester 32 minutes, London Euston just over 2 hours away with trains departing hourly. The Merseyrail Loop system directly links Liverpool's Lime Street, James Street, Central and Moorfield stations.

Road

Liverpool has excellent connections to regional and national motorway networks. The M62 lies 7km (4.5 miles) east, connecting Liverpool to the key regional cities of Manchester and Leeds, as well as the M6 and M1 national motorways.

Air

Liverpool John Lennon Airport is situated 10km (6 miles) south east of the city centre and has established itself as one of the UK and Europes fastest growing airports, with direct flights to over 70 destinations.

Description

Ovatus 1

The site currently comprises a secure cleared site, used as car parking for 21 spaces and measures approximately 0.13 acres (0.05 ha).

Planning Permission (Ref 17F/0042) has been granted for the delivery of 168 residential apartments over 27 storeys, offering a residents entrance from the public realm at ground floor level. Residential floor levels 1-23 are to include a collection of studios, one bedroom and two-bedroom apartments. Floors 23 and 24 comprise four no. three bedroom apartments and floors 25 and 26 offer duplex apartments.

The above was approved subject to the signing of a S106 agreement, which requires a financial contribution of around £475,393.

Details of the permission and additional relevant documentation can be found within the data room or the Liverpool City Council Planning Portal.

Ovatus 2 Available by further negotiation

There is an opportunity to acquire the adjacent land known as 'Ovatus 2'.

The site currently comprises a vacant three-storey purpose built data centre of steel frame construction and concrete block walls. The building is over-clad with attractive mirrored glass elevations to the front and profile metal sheeting to the rear beneath a flat roof.

The site extends to approximately 0.50 acres (0.24 ha) and the gross internal floor area of the building provides approximately 32,484 sq ft (3,108 sq m).

We understand the local authority are supportive of development, with proposals discussed in principle for a tower of up to 50-storeys and 538 apartments and associated public realm and landscaping. All reports for Ovatus 2 are readily prepared to support a full planning application submission.

Details of the proposed designs, massing and plans can be provided upon request. Interested parties are encouraged to consider the current proposals, alongside their own designs, height and uses for the site.

Tenure

Freehold

VAT

We are advised that the property is opted to tax

Anti-Money Laundering Regulations

In order to discharge its legal obligations, including under applicable anti-money laundering regulations, C&W will require certain information of the successful bidder.

In submitting a bid, you agree to provide such information when Heads of Terms are agreed.

FURTHER INFORMATION

Additional information is available within the data room. Access can be provided upon request.

Proposal

PROPOSAL - Ovatus 1
Offers in the region of £2,500,000 are invited for the freehold interest.

PROPOSAL- Ovatus 2
Available subject to further negotiation.

All reports for Ovatus 2 are readily prepared to support a full planning application submission.

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