Upon instructions of the Joint Administrators : Part Complete Residential Development Site - Intended to be 208 studio apartments and commercial units

Description
NOTE BEST OFFERS REQUSETED BY FRIDAY 5th APRIL - PLEASE CONTACT LANDWOOD FOR INFORMATION ON HOW TO SUBMIT A BID

The site houses a part complete development where the intention was to provide 208 studio flats and commercial units. There has been substantial works on the site, including the main structure and roof, along with internal floors and stairwells. There has been more significant internal works to the first three floors, to create the individual studios and commercial units. The property is positioned on a site extending to circa 0.37 acres.

For various reasons we understand that the scheme that was commenced cannot be completed.



Location
The site is located in an area known as the Fabric District, on the western edge of Liverpool City Centre. The area is known as the Fabric District due to its historic associations with fashion and textiles and is located between Islington and London Road. The Fabric District is a key area for regeneration in Liverpool, with a long term plan to create new homes and working spaces, alongside leisure and recreational uses.

The Fabric District borders Lime Street and the Knowledge Quarter, which is home to the City's Universities and the £1bn Paddington Village Scheme.


Tenure
The premises are held under a long leasehold title for a period of 150 years from 27th January 2017 at a peppercorn rent, under title number MS640794. Please note that the lease is drawn in the form of a building lease with an option to acquire the freehold for the sum of £1 once development is completed. Due to the time elapsed since lease grant, there are a number of provisions that need updating in order to ensure the lease remains institutionally investable. Based on discussions with the local authority (as landlord) it is anticipated that the required changes can be made as part of the transaction process.

VAT
All figures quoted are exclusive of VAT. The Administrators have made an option to tax so VAT will be applicable.

Additional Information
Important Information/Planning
There are various planning applications relating to the site. Please request a copy of the Information Pack for further details but we would also recommend that all buyers make their own enquiries through Liverpool City Council.

VAT
All figures quoted are exclusive of VAT. The Administrators have made an option to tax so VAT will be applicable.

Legal Costs
Each party will be responsible for their own legal costs.

Price
Unconditional offers invited in the region of £3,000,000.

Sales have been agreed on the wider scheme and our clients wish us to seek offers both subject to the existing sale contracts remaining in place, or free from them with respect to the sales agreed on the wider units.

Viewings
Strictly by appointment