Land at 122 Old Hall Street

Liverpool L3 9PY

Overview

  • Opportunity to purchase a prime residential development opportunity, immediately adjacent to Liverpool's commercial centre on Old Hall Street
  • Situated in a prominent location to the north of Liverpool City Centre with a highly visible frontage to Leeds Street
  • Ovatus 1 has planning consent granted for 168 apartments
  • Ovatus 2 has pre-application proposals for 538 apartments - planning anticipated in April 2021
  • Neighbouring Kier's £200m Pall Mall development comprising a 400,000 sq ft Grade A office and 281 bedroom hotel
  • Opportunity to create a stunning landmark for Liverpool in a location which will be a vibrant place to live, work and visit
  • Freehold
  • Offers are invited for the Freehold interest in the site(s)
  • The landowner is open to a Joint Venture Partnership with a developer or PRS / Build-to-Rent operator

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 city's 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.

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 Mersey rail 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 7 km (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 10 km (6 miles) south east of the city centre and has established itself as one of the UK and Europe's fastest growing airports, with direct flights to over 70 destinations.

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
  • 281 bedroom hotel with associated retail and leisure amenities
  • New largescale 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 Liverpool's prime residential location both from a sales and build-to-rent perspective.

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 dataroom or the Liverpool City Council Planning Portal.

Ovatus2

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).

A pre-application has been submitted and the local authority are supportive of residential development, with proposals discussed for a tower of up to 50-storeys and c.538 apartments and associated public realm and landscaping.

Planning submission is set for December 2020, with anticipated consent in Q2 2021. 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 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

Ovatus 1 & 2 Offers are invited for the Freehold interest in the site(s).

ALTERNATIVE JV

The landowner is open to a Joint Venture Partnership with a developer or Build-to-Rent operator

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