A former retail store and Taskers parking lot in Liverpool has been put up for sale, with redevelopment opportunities. No indicative value has been issued.
CBRE and the residential and progression business groups were tasked with promoting the 4. 6-acre site, strategically located on Wavertree Road in Edge Hill. CBRE works for Taskers.
It includes a 120,000-square-foot vacant retail warehouse, as well as a related above-ground parking lot.
It is suitable for a wide diversity of uses, subject to permits for plans, residential addition, construction for rent (BTR), housing, purpose-built student housing (PBSA), offices, laboratories, educational institutions, and hotels. Taskers will review the unconditional offers and proposals submitted to make plans.
Taskers has a history in Liverpool, operating in the city since the 1950s and tracing its origins back to Jack Tasker who opened a small shop on Goodison Road, Walton.
With easy access to Liverpool city centre, the site is close to the village of Paddington in the Knowledge Quarter, the world’s first 450-acre urban innovation district that encompasses more than part of 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 space. It is also close to a diversity of amenities including more than 170 retail stores, bars/restaurants, theaters, and recreational operators.
Waverlee Road is a major strategic thoroughfare and an active address in the urban area.
Andrew Byrne, director of CBRE’s office agency team in Liverpool, said: “This represents a key opportunity to obtain a strategically located site, suitable for many redevelopment, expansion and retail opportunities.
“Levels of progress for new structures have been limited and demand has been limited to renovations of existing buildings. The insufficient source in Liverpool’s labour market has led to an unmet demand for titles and there is a lingering sense that we want to take advantage of this unmet outlook in the region.
He added: “Demand in the laboratory market over the past two years has averaged 105,000 square feet, which exceeds the existing supply.
“Modern occupants prefer homes delivered within a well-organised ecosystem, which meets their needs for a suitable location, high-quality, resilient and sustainable laboratory facilities.
“This site opens up opportunities for the laboratory sector with the provision of a highly concentrated laboratory area in five large buildings/developments/business parks, with 3 of the five located in Liverpool city centre and in the Knowledge Quarter. “
Claire Robinson, associate director of CBRE’s UK residential and development team, said: “The Liverpool residential market has benefited from a peak of investment and progression over the last decade, with the majority of new projects in the centre of Liverpool.
“However, there are few new progressions around Mount Vernon Road, with the exception of the residential offering in Paddington Village. This represents an opportunity for further residential progression to serve a developing population, most commonly young people and other seniors aged 20-34, and a higher proportion of renters.
He added, “The site is also a residential market that caters to students who read at the city’s five higher education institutions.
“The existing source of student beds in Liverpool is nowhere near the existing demand, with over 10,000 PBSA beds still needed and this has the potential to bridge that gap by offering trendy services in a convenient location. “