“is this the end of fractional sales?” - city residential...park central - liverpool waters...
TRANSCRIPT
“Is this the end of Fractional Sales?”
LIVERPOOL RESIDENTIAL UPDATE QUARTER 3 2019
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City Residential
City Residential is Liverpool’s award winning, premier residential agent specialising in city living in Liverpool and across the Northwest. In addition to having one of the largest residential teams in Liverpool we are also recognised as one of the leading northwest residential specialists with our consultancy services respected throughout the industry. Operating from Liverpool’s most prominent and modern showroom we offer a full range of residential services across the Merseyside and Greater Manchester regions:
• Sales
• New Build Sales/advice/consultancy
• Lettings/Management
• BTR (Build to Rent) advice/consultancy and management
• Bulk Deals & Investment Properties
• Land/Development sales and acquisitions
For further information contact Alan Bevan on 0151 231 6100 or 07970 498187 [email protected]
www.cityresidential.co.uk
Park Central - Liverpool Waters
Luxury Apartments for Sale
City Residential are delighted to offer for sale a range of apartments in the only residential development at Liverpool Waters currently available for sale. With Phase 1 now sold and complete this second phase comprises a total of 129 apartments
· Selection of 2 bedroom apartments · Close to Liverpool Business District and Princes Dock · Car parking available · Views across the proposed 16 acre Prospect Park at Central Waters · For sale from only £205,045
For further information 0151 231 6100
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Price £/sq ft Quarter Annual Average £/sq ft Average £/sq ft
Studio 275 £61,000 £222 -0.50% -3.00% £64,050 £233 £65,880 £240
Studio 325 £61,000 £188 -0.50% -3.25% £64,050 £197 £65,880 £203
1 bed 450 £108,000 £240 0.00% 2.25% £113,400 £252 £116,640 £259
1 bed 525 £123,500 £235 0.00% 2.25% £129,675 £247 £133,380 £254
2 bed 550 £141,000 £256 0.50% 2.65% £148,050 £269 £152,280 £277
2 bed 610 £148,000 £243 0.75% 3.25% £155,400 £255 £159,840 £262
2 bed 685 £169,000 £247 0.75% 2.85% £177,450 £259 £182,520 £266
2 bed 2 bath 775 £192,750 £249 0.50% 2.95% £202,388 £261 £208,170 £269
2 bed 2 bath 875 £222,000 £254 0.25% 2.65% £233,100 £266 £239,760 £274
2 bed penthouse 1000 £244,000 £244 0.00% 2.75% £256,200 £256 £263,520 £264
3 bed 1 bath 850 £213,000 £251 0.50% 2.75% £223,650 £263 £230,040 £271
3 bed 2 bath 975 £238,000 £244 0.50% 2.75% £249,900 £256 £257,040 £264
£172,604 £239 0.23% 1.74% £180,609 £251 £185,413 £258The figures detailed above are based upon a sample of apartments (from 10 developments) in the city/docklands and the prices that would be achieved in today’s market conditions.
They are not necessarily based on actual achieved prices (but use market evidence) as the sample size could be too low resulting in extreme variations in price. . .
Built Off Plan Off Plan (guaranteed yield)
Sales Prices - Liverpool City Centre (AVERAGES)
AVERAGES
Apartment Type Sq FtPrice Changes
RESIDENTIAL SALES Prices
• HALIFAX – 0.4% increase over the quarter for the UK as a whole.
• NATIONWIDE – 0.2% increase over the quarter for UK as a whole.
• CITY RES – prices reasonably level during the quarter with studios again dragging down some growth elsewhere.
Market Activity
• Market activity remained resilient despite the issues facing the market. Slightly weaker activity compared with the same period last year (see note below on Brexit).
• Investment market (selling to local investors) remains subdued due to increased tax burden (the third reduction in tax relief has now been implemented with the passing of the new tax year on April 6th 2019).
• Good quality apartments in decent, well established schemes continue to prove popular and attract multiple interested parties.
• Difficulties in progressing sales to completion with some down valuing continuing to occur in the city together with delays in leasehold legal issues.
Supply/demand
• Increase in supply of investor stock being delivered across the city (predominately at the lower/cheaper end of the market) is continuing to have an effect on pricing/demand.
• Definite and noticeable increase (over the same period last year) in supply of investor stock as properties become vacant (seasonal) and some landlords deciding to sell.
• City is continuing to attract wealthier investors/buyers who are looking for “better quality” schemes/apartments that are in short supply/not being delivered at present.
Tax/legislation/politics/finance • Continued uncertainty over the economy and more particularly Brexit appears to be
convincing the Bank of England/Monetary Policy Committee to retain rates at 0.75% however recent speculation hinting at a possible reduction by year end/early next year.
• Somewhat surprisingly Brexit/political uncertainty does not appear to have the pronounced negative affect on the market that some commentators had suggested it would have done. It appears that the type of buyer who is buying in the city centre is doing so irrespective of the likely outcome of Brexit/election. We are not convinced that a general election would also have such a subdued reaction!!
RESIDENTIAL SCHEMES for SALE 0151 231 6100
-----------------------------------------------------------------------------------------------------------------
PARK CENTRAL – LIVERPOOL WATERS
No of Apartments/houses: 129 Apartments Type: 1 and 2 bed apartments Address: Central Dock, Liverpool Waters, Liverpool Prices From/To: From £205,045 Showhome/apartment: To be announced shortly
-------------------------------------------------------------------------------------------------------------------
27 BRIDGEWATER STREET - BALTIC
No of Apartments/houses: 5 Houses Type: 3 and 4 bed townhouses Address: 27 Bridgewater Street, Baltic, L1 0AR Prices From/To: From £464,950 Showhome: Via Appointment
------------------------------------------------------------------------------------------------------------------- PERCY PLACE
No of Apartments/houses: 6 houses & 2 apartments Type: 1 bed apartments and 4 bed houses Address: Percy Street, Canning, Liverpool, L8 7SE House Prices From : £464,950 Showhome/apartment: Via Appointment
------------------------------------------------------------------------------------------------------------------- ALEXANDRA DRIVE
No of Apartments/houses: 14 apartments Type: 1 and 2 bed apartments – conversion Address: 28 Alexandra Drive. Liverpool, L17 8YE Prices From: £124,950 Showhome/apartment: Via Appointment
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Sales Price Paid
3 months 10 £151,075 £2,213 1.49%
6 months 18 £130,763 £8,873 6.26%
12 months 79 £135,776 £3,804 2.59%
Sales Price Paid
3 months 2 £175,000 £2,456 1.49%
6 months 4 £173,374 £9,749 6.18%
12 months 34 £160,124 £3,592 2.19%
Sales Price Paid
3 months 15 £148,963 £2,594 1.45%
6 months 39 £151,393 £9,274 5.38%
12 months 156 £169,375 £3,755 2.11%
Sales Price Paid
3 months 27 £151,674 £2,421 1.48%
6 months 61 £146,747 £9,299 5.94%
12 months 269 £158,338 £3,717 2.30%
City Centre Prices and Completions from ZOOPLA£150,583
£167,454
£181,554
Change
Change
L1Current average value
L2Current average value
£170,676CITY CENTRE
Current average value
Change
Change
L3Current average value
Completions
The information above is taken from Zoopla sold house prices and whilst is accurately recorded may not actually represent all of the properties that have been registered during the quarter. The actual figure may be higher/lower than that shown as some sales are not
always shown on Land Registry. The average pricing achieved may also be affected by low transaction levels
This report is read by up to 10,000 people every quarter
Distributed to:
Investors, landlords, tenants, buyers, sellers, estate agents, letting agents, planners, landowners, developers, commercial agents, facility managers, surveyors, architects, bankers, quantity surveyors, project managers, retailers, serviced apartment operators, financial advisors, wealth managers, finance companies, solicitors, accountants, developers, housebuilders, housing associations, private equity, fund managers, investment houses, insurers, politicians, councilors, managing directors, chief executives, advertising companies, PR companies, journalists, media companies, web designers and many more
For more information on advertising or sponsorship Contact
Joanne Shannon
[email protected] 0151 231 6100
27 Bridgewater Street, Baltic
Luxury Townhouses for Sale City Residential are delighted to offer for sale this stunning and unique development of just
five townhouses located at the heart of Liverpool’s booming Baltic District.
· Selection of 3 and 4 bedroom townhouses · Located in the heart of Baltic close to Higson’s Brewery and Baltic Bakehouse, · Garages included on most units and extra car parking available · For sale from only £464,950
For further information 0151 231 6100
RESIDENTIAL DEVELOPMENTS
FOR SALE/UNDER CONSTRUCTION
Kings Dock Mill Phase 2, Hurst Street, Baltic, L1 8DN Developer Yu Property Group
Number of Apartments 204
Apartment Types 1,2 & 3 bed and townhouses
Type of Sale Investor
New Build/Conversion New Build
Build Complete 2019
Comments/Updates Second phase of Kings Dock Mill scheme adjoining The Hilton in Baltic
ART Apartments, Tabley St, Baltic L1 2HB Developer Baltic Cool/LAGP
Number of Apartments 55
Apartment Types 1 and 2 bed
Type of Sale TBC
New Build/Conversion New Build
Build Complete 2019
Comments/Updates 11 Storey scheme on vacant land adjoining Kings Dock Mill phase 2.
60 Old Hall Street, Liverpool, L3 9PP Developer Signature Living
Number of Apartments 115
Apartment Types 1 and 2 bed
Type of Sale Investor
New Build/Conversion Conversion
Build Complete Part complete/Autumn 2019
Comments/Updates Refurbishment of the “ugly duckling” into residential scheme
Princes Suites, Dale Street, L2 2HT Developer Goodman Wells
Number of Apartments 35
Apartment Types Studio, 1 and 2 bed
Type of Sale Investor
New Build/Conversion Conversion
Build Complete Part complete/await news?
Comments/Updates Refurbishment of former Princes Building on Dale Street. STALLED?
FOR SALE/UNDER CONSTRUCTION
27 Bridgewater Street, Baltic, Liverpool, L1 0AR Developer Hughes & Jones (Baltic) Ltd
Number of Houses 5
House Types 3 and 4 bed houses
Type of Sale Owner occupier/Investor
New Build/Conversion New Build
Build Complete Autumn 2019
Comments/Updates Unique development of new townhouses in the heart of Baltic Triangle
Silkhouse Court, Tithebarn St, L2 2QW Developer Fortis/Signature
Number of Apartments 193
Apartment Types Studio, 1, 2 and 3 bed
Type of Sale Investor
New Build/Conversion Conversion
Build Complete Autumn 2019
Comments/Updates Conversion of Silkhouse Court with good views from upper floors.
Stanley Dock, Regent Road, Liverpool, L3 0AN Developer Harcourt Developments
Number of Apartments 538
Apartment Types Studio, 1 and 2 bed
Type of Sale TBC
New Build/Conversion Conversion
Build Complete 2020 onwards
Comments/Updates Redevelopment of former Tobacco Warehouse at Stanley Dock.
Strand Plaza/Mersey House, The Strand, L2 7PX Developer Primesite
Number of Apartments 122
Apartment Types 1, 2 and 3 bed
Type of Sale Investor
New Build/Conversion Conversion
Build Complete Part complete/2019
Comments/Updates Conversion of former Mersey House overlooking The Strand/3 Graces.
FOR SALE/UNDER CONSTRUCTION
The Eight Building, Glenville St, Baltic, L1 5JR Developer Iliad
Number of Apartments 120
Apartment Types 1, 2 and 3 bed
Type of Sale TBC
New Build/Conversion New Build
Build Complete 2020
Comments/Updates Follow up residential scheme to student scheme already built.
Baltic House, Norfolk Street, Baltic Triangle, L1 0BL Developer Crossfield Exclusive Dev Ltd
Number of Apartments 126
Apartment Types 1, 2 and 3 bed
Type of Sale Investor
New Build/Conversion New Build/restart scheme
Build Complete 2020/TBC
Comments/Updates Stalled scheme bought by Crossfield Exclusive and back on site.
Parliament Residences (Phase 2), Baltic, L1 0AJ Developer AC Parl St 2 (Assetcorp)
Number of Apartments 145
Apartment Types 1, 2 and 3 bed
Type of Sale TBC
New Build/Conversion New Build
Build Complete Autumn 2019
Comments/Updates Residential scheme completing the block of residential in this location
Fabric District Residences, Liverpool, L3 8HA Developer YPG
No of Apartments 208
Apartment Types Studio apartments
Type of Sale Investor
New Build/Conversion New Build
Build Complete 2020
Comments/Updates Located on Devon Street and spread over 9 floors
FOR SALE/UNDER CONSTRUCTION
The Address, Ropewalks, L1 4JJ Developer Elliot Group
Number of Apartments 200
Apartment Types Studio 1 and 2 beds
Type of Sale Investor
New Build/Conversion New Build
Build Complete 2020
Comments/Updates Final part of the Wolstenholme Square residential development
Infinity, Lanyork Rd/Leeds Street, Liverpool, L3 6JB Developer Elliot Group
Number of Apartments 1015
Apartment Types Studio, 1, 2 and 3 bed
Type of Sale Investor/owner occupier
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Striking and ambitious new scheme with anticipated £250million GDV.
Park Central (Phase 2), Waterloo Rd, Liverpool Waters
Developer Romal Capital
Number of Apartments 129
Apartment Types 1 and 2 bed
Type of Sale Investor/Owner Occupiers
New Build/Conversion New Build
Build Complete Autumn 2020
Comments/Updates 2nd Phase of this groundbreaking Liverpool Waters scheme
Herculaneum Quay, Riverside Drive, L3 4ED Developer Primesite Developments
Number of Apartments 123
Apartment Types 1,2 and 3 bedroom
Type of Sale Predominately Investor
New Build/Conversion New Build
Build Complete Back onsite post administration
Comments/Updates Striking scheme in south Liverpool docks with views across the river
FOR SALE/UNDER CONSTRUCTION
Fabric Residence, Fabric District, Liverpool, L3 8HA Developer YPG
No of Rooms 449
Apartment Types Studio, 1 and 2 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Previously consented student scheme now proposed residential
Parliament Square, Great George St, L1 0BS Developer Legacie
No of Apartments 505
Apartment Types Studios, 1, 2 and 3 bed
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Large 12/18 storey mixed use scheme on corner of Baltic Triangle
RESIDENTIAL DEVELOPMENTS
POTENTIAL/FUTURE SCHEMES
Heaps Mill,1 Park Lane, Liverpool, L1 5EX Developer Elliot Group/Valorem IP
Number of Apartments 400 (amended scheme)
Apartment Types Studio, 1, 2 and 3 bed
Type of Sale TBC
New Build/Conversion New Build & Conversion
Build Complete TBC
Comments/Updates Will probably be a mixed residential scheme including BTR blocks
The Tannery, Gardeners Row, Liverpool, L3 6JH Developer Niveda Realty/Vinco
Number of Apartments 381
Apartment Types Studio, 1 and 2 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Trio of buildings comprising 7, 9 and 15 storey towers.
POTENTIAL/FUTURE SCHEMES
Brewery Village (Cains), Baltic, L8 5XJ Developer Cains Brewery Village
Number of Apartments 1400/1500
Apartment Types Studio, 1, 2 and 3 bed
Type of Sale PRS or investors
New Build/Conversion Predominately new build
Build Complete TBC
Comments/Updates £150/£200 million mixed use redevelopment of former Cain’s Brewery.
Hughes House, Liverpool, L3 8JE Developer Town Square Developments
Number of Apartments 252
Apartment Types Studio, 1 and 2 bed
Type of Sale TBC/Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Proposals to demolish the TJ Hughes store and new build replacement
VIA VERDE, Leeds St/Vauxhall, Pumpfields, L3 6BA Developer Mees Demolition/Eldonian
Number of Apartments 1308
Apartment Types Studio, 1, 2 and 3 bed
Type of Sale Investor or PRS
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Large mixed-use scheme with 55,000 sq ft commercial space.
Eclipse, Baltic Triangle, L1 5HA Developer Ridgemere Construction
Number of Apartments 217
Apartment Types Studio, 1 and 2 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Redesign of a previously consented residential scheme in Baltic
POTENTIAL/FUTURE SCHEMES
Former Bogans, Baltic Triangle, L1 5HA Developer Miami Ltd/Iliad
Number of Apartments 156
Apartment Types Studio, 1 and 2 bed
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates New Baltic residential scheme with 4 commercial units to ground floor.
One Baltic Square Grafton St, Liverpool, L8 4QX Developer YPG
Number of Apartments 301
Apartment Types 1 and 2 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Adjoining Cains Brewery site ranging in height from 4 to 9 storeys.
St Anne Street, Liverpool, L3 3DY Developer Citipads
Number of Apartments 319
Apartment Types 1, 2 and 3 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Large scheme adjacent to ongoing Fox Street Village development.
Azure/Rose Place, off St Anne St, Liverpool, L3 3BN Developer Legacie Developments
Number of Apartments 127
Apartment Types Studio 1 and 2 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates New scheme close to Phoenix Place/Fox Halls student developments
POTENTIAL/FUTURE SCHEMES
Queens Dock, Chaloner Street, L3 4BE Developer TBC
Number of Apartments 192
Apartment Types Studio, 1 and 2 bed
Type of Sale PRS or Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Overlooking Queens Dock adjacent to Leo’s Casino. Site for sale
Ovatus 1, Old Hall Street/Leeds St Developer Prospect Capital/Wilcocks
Number of Apartments 168 (phase 1)
Apartment Types Studio, 1, 2 and 3 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Phase 1 of double tower scheme at junction of Old Hall St/Leeds St
Ovatus 2, Old Hall Street/Leeds St Developer Prospect Capital/Wilcocks
Number of Apartments 530 (phase 2)
Apartment Types Studio, 1, 2 and 3 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Will be Liverpool’s tallest scheme at 48 storeys high when/if built
Great Homer St/Virgil St, Liverpool L5 5BY Developer The Soller Group
Number of Apartments 277
Apartment Types Studio, 1 and 2 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Large residential scheme close to Project Jennifer regeneration
POTENTIAL/FUTURE SCHEMES
Freemasons Row, Leeds St, Liverpool, L3 2DJ Developer Vinco
Number of Apartments 656
Apartment Types Studio, 1,2 3 bed apartments
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC/Unlikely to happen
Comments/Updates Large residential scheme in Pumpfields fronting onto Leeds Street.
Norfolk House PH 3/EPIC, Baltic, L1 0AR Developer Elliot Group/EPIC Hotel
Number of Apartments 306 bed hotel and apartments
Apartment Types Hotel and apartments
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Final phase of a three phased scheme in the heart of Baltic Triangle.
Norton’s, Flint Street, Baltic, L1 0DH Developer Citipads
Number of Apartments 650
Apartment Types 1, 2 and 3 bed
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Large prominent site being brought forward on corner of Baltic Triangle
35 Bridgewater Street, Baltic, L1 0AJ Developer Eloquent Global/For sale
Number of Apartments 43
Apartment Types 1, 2 and 3 bed apartments
Type of Sale Private Sale
New Build/Conversion Conversion & New Build
Build Complete 2020/TBC
Comments/Updates Nice conversion in heart of Baltic Triangle opposite Higson’s Brewery
POTENTIAL/FUTURE SCHEMES
Brunswick Way, Docklands, L3 4BL Developer NWIA
Number of Apartments 240
Apartment Types 1 and 2 bed
Type of Sale TBC
New Build/Conversion New Build
Build Complete 2021/TBC
Comments/Updates Stunning new docklands scheme in Liverpool Marina. Site for sale
Baltic Place, Brassey St, Liverpool, L8 5XP Developer Eloquent Global
Number of Apartments 246
Apartment Types 1 and 2 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates On the edge of the expanding Baltic Triangle close to Cain’s Brewery
Riverside, Sefton Street, Liverpool, L8 6UD Developer Eloquent Global
Number of Apartments 198
Apartment Types 1 and 2 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Replacing a former car garage with rear of site fronting Caryl Street
Bevington Bush Scotland Road L3 6JH Developer Bevington Developments Ltd
No of Apartments 614
Apartment Types Studio, 1, 2 and 3 bed
Type of Sale Investor/BTR
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Formerly a proposed STUDENT scheme now with residential planning
POTENTIAL/FUTURE SCHEMES
The Metalworks, Pumpfields, L3 6DL Developer Acentus RE/Respect-Hipkiss
Number of Apartments 312
Apartment Types Studio, 1 and 2 bed
Type of Sale Investor Sale
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Large residential scheme comprising 11/13 storey blocks.
VAUXHALL, Oriel St/Paul St, Liverpool, L3 6DU Developer Smith Young
No of Apartments 240
Apartment Types Studios, 1 and 2 bed
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Large mixed-use scheme proposed for Vauxhall/Pumpfields area
Clegg Street, Liverpool, L5 3LU Developer Caro
No of Apartments 97
Apartment Types Investor
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Adjoining Caro’s City Point student scheme just off St Anne’s Street
St James St, Baltic, L2 2HT Developer LPS Real Estate
Number of Apartments 44
Apartment Types 1, 2 and 3 bed
Type of Sale Investor/TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates New building (inc new build pub) on former Liver Works site in Baltic
POTENTIAL/FUTURE SCHEMES
Plot C02 Central Docks, Liverpool Waters
Developer Romal Capital
Number of Apartments 646
Apartment Types 1 and 2 bed
Type of Sale Investor/Owner Occupiers
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Next phase of this groundbreaking Liverpool Waters scheme
Pall Mall, 70-90 Pall Mall, Liverpool, L3 6AE Developer Elliot Group
Number of Apartments 800
Apartment Types 1, 2 and 3 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete STALLED/restart shortly
Comments/Updates Site purchased by ELLIOT Group after NPG administration
Aspire, Waterloo Road/Paisley St, L3 7BA
Developer Living Brick Ltd
Number of Apartments TBC
Apartment Types 1, 2 and 3 bed
Type of Sale Investor
New Build/Conversion New Build
Build Complete TBC
Comments/Updates 16 Storey development close to Liverpool Waters/new link road
Highpoint, 24 Highfield St, L3 6AA
Developer TBC
Number of Apartments TBC
Apartment Types TBC
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Potential new tower scheme on site of existing offices
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STALLED/NOT PROGRESSING
New Chinatown, Great George Street, L1 7AG Developer Great George St Developments
Number of Apartments 117 (phase 1) 503 (P2 & P3)
Apartment Types Studio, 1,2 and 3 bedroom
Type of Sale Investor
New Build/Conversion New Build
Build Complete STALLED
Comments/Updates New proposals announced to kick start this former stalled site
Victoria House, James Street, Liverpool, L1 6BD Developer AR & V Investments
Number of Apartments 63
Apartment Types Studios and 1 bed
Type of Sale Investor
New Build/Conversion Conversion
Build Complete STALLED/restart shortly
Comments/Updates Site purchased progress soon/new proposals submitted for planning
ALEXANDRA TOWER
Princes Dock, Liverpool, L3 1BF
Alexandra Tower is one of Liverpool’s most iconic residential buildings literally “perched” on the River Mersey at Princes Dock. The apartments in the scheme benefit from stunning views, either across the river towards the Welsh Hills or back towards the famous Liverpool City skyline. Having been improved by the previous owner to include refurbished entrance/concierge, upgraded communal areas and the reinstatement of car parking Alexandra Tower now offers some of the best apartments in the city.
TO LET (all prices are from) - 1 beds £700, 2 beds £850, 3 beds £1200
Unfurnished and furnished apartments available
FOR SALE (all prices are from) 2 beds £179,950
0151 231 6100
Rent £/sq ft pcm £/sq ft pa Rent £/sq ft pcm £/sq ft pa Quarter Annual Rent £/sq ft pcm £/sq ft pa
Studio 275 £490 £1.78 £21.38 £495 £1.80 £21.60 -1.00% -1.00% £600 £2.18 £26.18
Studio 325 £535 £1.65 £19.75 £540 £1.66 £19.94 -1.00% -1.00% £650 £2.00 £24.00
1 bed 450 £615 £1.37 £16.40 £610 £1.36 £16.27 1.00% 3.25% £700 £1.56 £18.67
1 bed 525 £650 £1.24 £14.86 £660 £1.26 £15.09 0.00% 2,85% £725 £1.38 £16.57
2 bed 550 £710 £1.29 £15.49 £720 £1.31 £15.71 0.75% 3.00% £900 £1.64 £19.64
2 bed 610 £765 £1.25 £15.05 £770 £1.26 £15.15 0.00% 2.20% £935 £1.53 £18.39
2 bed 685 £790 £1.15 £13.84 £800 £1.17 £14.01 0.00% 2.75% £965 £1.41 £16.91
2 bed 2 bath 775 £830 £1.07 £12.85 £840 £1.08 £13.01 0.00% 2.75% £1,000 £1.29 £15.48
2 bed 2 bath 875 £930 £1.06 £12.75 £940 £1.07 £12.89 -0.50% 2.25% £1,050 £1.20 £14.40
2 bed penthouse 1000 £1,040 £1.04 £12.48 £1,050 £1.05 £12.60 -0.50% 1.75% £1,150 £1.15 £13.80
3 bed 1 bath 850 £1,130 £1.33 £15.95 £1,165 £1.37 £16.45 0.00% 2.50% £1,300 £1.53 £18.35
3 bed 2 bath 975 £1,250 £1.28 £15.38 £1,275 £1.31 £15.69 0.00% 2.50% £1,400 £1.44 £17.23
£811 £1.29 £15.52 £822 £1.31 £15.70 -0.10% 1.90% £948 £1.53 £18.30The figures detailed above are based upon a sample of apartments (from 10 developments) in the city/docklands and the prices that would be achieved in today’s market conditions.
They are not necessarily based on actual achieved prices (but use market evidence) as the sample size could be too low resulting in extreme variations in price. . .
Market Rents - Liverpool City Centre (AVERAGES)
Apartment Type Sq FtPRS/BTR (projected)
AVERAGES
Price ChangesCity Centre (L1 & L2) Docklands (L3)
RESIDENTIAL LETTINGS
Prices
• Rents fairly static during the quarter overall although we have seen renewed strength in activity at the lower end of the market particularly affordable 1 beds.
• Most landlords happy to see continuity of tenancy/small increase on renewal rather than trying to substantially raise rents.
Market Activity
• Market reasonably active during the quarter but slightly below last year activity levels.
• Continued strong interest in larger/more expensive properties.
• The introduction of the fee ban on 1st June did not appear to cause too much upheaval in the market. Some tenants did delay their move during May until after the fee ban introduction but not in substantial numbers.
Supply/demand • The completion of several new schemes with more affordable stock increased supply
with a definite and noticeable effect on supply/demand.
• City is continuing to attract wealthier tenants who are looking for “better quality schemes/apartments” that are in short supply/not being delivered at present.
• The slowing pipeline and likelihood that a substantial portion of this will not get built may well lessen the pressure on rents that would occur if this pipeline was delivered.
Tax/legislation/politics/finance • Due to increasingly onerous tax/legislative changes (increased stamp duty and loss of
tax relief) landlords being more particular and are less willing to pay asking prices and offering below market value
• The “tightening” of required rental interest cover by mortgage lenders is having an impact especially those landlords with high levels of gearing although the continued availability of extremely low 2, 3, 5 and 10 year fixed rates continues to offset this.
• Recent announcement of the potential banning of Section 21 notices may well lead to longer, open ended tenancies something the government appears very keen to introduce
RESIDENTIAL SCHEMES to LET ----------------------------------------------------------------------------------------------------------------------------
ALEXANDRA TOWER
No of Apartments:70 Type:1, 2 and 3 Bed Address: Princes Dock, Liverpool, L3 1BD Prices From: 1 bed: £700 2 bed: £900 3 bed: £1,200 Furnished/Unfurnished: Selection of both Car Parking: Yes
---------------------------------------------------------------------------------------------------------------------------- SHAFTESBURY APARTMENTS
No of Apartments:39 Type:1 and 2 Bed Address: Mount Pleasant, Liverpool, L3 5SA Prices From: 1 bed: £650 2 bed: £800 Furnished/Unfurnished: Furnished Car Parking: No
---------------------------------------------------------------------------------------------------------------------------- 2 MOORFIELDS
No of Apartments: 68 Type: Range of studio apartments Address: 2 Moorfields, Liverpool, L2 2BS Prices From/To: Studios £575-£650 all inclusive rents Furnished/Unfurnished: Furnished Car Parking: No
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HADWENS APARTMENTS
No of Apartments: 8 Type: 1 and 2 bed Address: Tithebarn St, Liverpool L2 2SB Prices From/To: 1 bed: ALL LET 2 bed: £950 Furnished/Unfurnished: Furnished Car Parking: No
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0151 231 6100
BUILD TO RENT (BTR)
During the last quarter we have seen the following announcements which continue to highlight Liverpool as being one of the more active BTR cities outside of London.
• Brickland/Heitman deal – Construction progressing extremely well
• Construction progressing very well on The Lexington (Moda/BCEGI) and Strand House (Panacea/Invesco/Graham’s).
• Construction on Plaza 1821 (Peel/Regenda/Vermont) progresses well after the administration of the previous contractor (Forrest).
• Heaps Mill/One Park Lane bought back by Elliott Group in JV with Valorem from Inhabit having previously sold the scheme to them. Probably BTR elements of the scheme although lower than previously assumed due to hotel deals announced.
• We await news on the proposed third Princes Dock tower “The Hive” by Your Housing.
UNDER CONSTRUCTION
Plaza 1821, Princes Dock, Liverpool Waters, L3 1DZ Developer Peel
Number of Apartments 105
Fund Regenda
Apartment Types 1 and 2 bed
New Build/Conversion New Build
Build Complete Spring 2020
Comments/Updates £21 million scheme being built by Peel for Regenda/Redwing
Strand House, 21 Strand St, Liverpool, L2 0PP Developer Panacea Property
Number of Apartments 391
Fund Invesco
Apartment Types 1, 2 and 3 bed
New Build/Conversion New Build
Build Complete Autumn 2020
Comments/Updates Located fronting The Strand with views across Albert Dock/Mann Island
The Lexington, Princes Dock, Liverpool Waters, L3 1DZ Developer Moda Living
Number of Apartments 304
Fund Apache
Apartment Types Studio, 1, 2 and 3 bed
New Build/Conversion New Build
Build Complete 2021
Comments/Updates 34 storey £82 million GDV scheme in Princes Dock/Liverpool Waters
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UNDER CONSTRUCTION
Blundell Street, Baltic, L1 0AJ Developer Brickland/Heitman
Number of Apartments 200
Apartment Types 1, 2 and 3 bed
Fund Heitman
New Build/Conversion New Build
Build Complete 2020
Comments/Updates Large new Baltic scheme including commercial & 116 car park spaces.
PROPOSED
The Keel (PHASE 2), Queens Dock, Liverpool, L3 4GE Developer Glenbrook
Number of Apartments 257
Fund Barings Real Estate
Apartment Types 1, 2 and 3 bed
New Build/Conversion New Build
Build Complete TBC
Comments/Updates 2nd phase of The Keel with two buildings overlooking Queens Dock
Aspire, 30-36 Pall Mall, L3 6AE Developer Anwyl Construction
Number of Apartments 336
Fund TBC
Apartment Types Studio, 1, 2 and 3 bed
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Stunning 22 storey scheme opposite proposed Pall Mall Exchange
The Hive Princes Dock, Liverpool Waters, L3 1DZ Developer Your Housing
Number of Apartments 276
Fund Self funded
Apartment Types 1, 2 and 3 bed
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Proposed £48 million scheme designed by Brock Carmichael
17,624
5,574
10,464
1,218
7%
4,464
23,109
368
53,140
EXPANDED CITY CORE
Total Number of City Centre Residents
Number of VACANT Properties
Number of Properties Built (all areas)
Number of TENANTED Properties
Number of OWNER OCCUPIED Properties
VACANCY Rate
Number of STUDENTS (living in non PURPOSE BUILT units)
Number of Units let to SERVICED APARTMENT operators
Number of STUDENTS (living in PURPOSE BUILT units)
POPULATION Residential
14,391
4,188
8,947
888
7%
3,645
20,421
368
46,273
CITY CENTRE CORE
Number STUDENTS (living in PURPOSE BUILT units)
Number of built PROPERTIES (city centre core)
Number of VACANT Properties
VACANCY Rate
Number STUDENTS (living in non PURPOSE BUILT units)
Number of OWNER OCCUPIED properties
Number of TENANTED properties
Number of Units let to SERVICED APARTMENT operators
Total Number of City Centre Residents
City Centre Core
Expanded City
Centre Core
Expanded City
Centre Core
Expanded City
Centre Core
UNIVERSITY/YEAR 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 Movement %
The University of Liverpool 20,590 20,875 21,345 22,715 24,775 27,070 28,795 6.37%
Liverpool John Moores University 25,855 22,585 21,315 20,635 21,880 22,445 23,225 3.48%
Liverpool Hope University 7,400 6,540 6,240 5,550 4,940 5,240 5,200 -0.76%
The Liverpool Institute for Performing Arts 720 730 720 715 720 745 795 6.71%
Liverpool School of Tropical Medicine 425 430 435 1.16%
TOTAL STUDENTS 54,565 50,730 49,620 49,615 52,740 55,930 58,450 4.51%
STUDENT POPULATION 2011/2018
Post Grad Under Grad Full Time Part Time Total
The University of Liverpool 6,725 22,070 25,370 3,425 28,795
Liverpool John Moores University 4,350 18,875 19,780 3,450 23,230
Liverpool Hope University 1,290 3,910 4,570 625 5,195
The Liverpool Institute for Performing Arts 0 795 795 0 795
Liverpool School of Tropical Medicine 435 0 150 285 435
TOTAL STUDENTS 12,800 45,650 50,665 7,785 58,450
STUDENT POPULATION 2017/2018
Student
• Another decent increase in undergraduate students from all universities has helped the overall student numbers increase over 4.5% year on year.
• LSTM numbers now shown separately from UoL figures.
Student Market – Latest Development/Planning Updates
• A large number of student schemes complete in readiness for the start of the 2019/2020 academic year including
One Islington Plaza (New Regen) - 317 units Horizon Heights (Unite) - 1085 units Calico (Niveda) - 738 units Hardman House (Carpenters) – 355 units Baltic 56 (Borden) - 126 units The Quadrant/Unity Square (MCR) – 240 units
• A total of 2861 units completed for the year
• Elliot Group announced the acquisition of the stalled, former North Point Global Paramount scheme on London Road with a view to completing the development in 2020.
STUDENT SCHEMES to LET 0151 231 6100
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SHAFTESBURY APARTMENTS
No of Apartments/Rooms: 39 Apartments Type: 1 and 2 bed apartments Address: Mount Pleasant, Liverpool, L3 5SA Bills included: No Rents from: £650 per month (18/19)
---------------------------------------------------------------------------------------------------------------------------- 2 MOORFIELDS
No of Apartments/Rooms: 68 studios Type: Self contained studios across three floors Address: 2 Moorfields, Liverpool, L2 2BS Bills included: Yes Rents from: £575-£650 per month all inclusive rents
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STUDENT DEVELOPMENTS
UNDER CONSTRUCTION/PROGRESSING
KAPLAN, Paddington Village, Knowledge Quarter, L7 Developer Kaplan/LIC
No of Rooms 259
Studios or Cluster Studio
Type of Sale Self fund
New Build/Conversion New Build
Build Complete 2020
Comments/Updates £35million development in the emerging Paddington Village/KQ district
Aura, Low Hill, Liverpool L6 1AU Developer Elliot Group
Number of Rooms 1007 (student units)
Studios or Cluster Predominantly cluster
Type of Sale Investor
New Build/Conversion New Build
Build Complete 2020
Comments/Updates Mixed Use scheme on site of former Erskine Industrial Estate
Devon House, Fabric District, Liverpool, L3 8HA Developer Yu Property Group
No of Rooms 218
Studios or Cluster Predominantly cluster
Type of Sale Investor
New Build/Conversion New Build
Build Complete Autumn 2020
Comments/Updates Previously consented scheme has been resubmitted for planning.
The Rise, Low Hill, Liverpool L6 1BP Developer Primesite Developments
No of Rooms 141
Studios or Cluster Predominantly cluster
Type of Sale Investor
New Build/Conversion New Build
Build Complete Sep 2020/STALLED?
Comments/Updates High-profile location close to new Royal Hospital.
UNDER CONSTRUCTION/PROGRESSING
Renshaw Hall, Benson Street, Liverpool, L1 2SS Developer Niveda Realty
No of Rooms 404
Studios or Cluster Studios and clusters
Type of Sale Fund
New Build/Conversion New Build
Build Complete Aug 2020
Comments/Updates New application in for hotel and 404 room student block
Fraser Street/Norton St, Liverpool, L3 8LR Developer Mount Property Group
No of Rooms 566
Studios or Cluster Predominately cluster
Type of Sale Fund
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Proposed redevelopment of former National Express bus centre
STUDENT DEVELOPMENTS PROPOSED/POSSIBLE
3 Oldham Place, Liverpool, L1 2TD Developer Oldham Place Ltd
No of Rooms 117
Studios or Cluster Studios
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Small site tucked away on Oldham Place opposite Unite’s St Luke’s
Mulberry Street, Canning, Liverpool, L7 7EE Developer Property Capital Development
No of Rooms 366
Studios or Cluster Studios
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Controversial scheme heavily objected to due to conservation area
PROPOSED/POSSIBLE
Copperas Hill Police Station, Liverpool, L3 5LD Developer TBC/Carpenter Investments
No of Rooms 206
Studios or Cluster Mixed student/cluster
Type of Sale Retain
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Scheme now being sold with the benefit of planning permission
Innovo House, Devon St, Fabric District, L3 Developer Mount Property Group
No of Rooms 124
Studios or Cluster Mixed student/cluster
Type of Sale Forward funded investor
New Build/Conversion New Build
Build Complete Sep 2020
Comments/Updates Forward funding deal announced in Mar 2019 with Soilbuild Group
Crown Street/Falkner St, Liverpool, L8 7SX Developer Elliot Group
No of Rooms
Studios or Cluster Mixed student/key worker
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Forward funding deal announced in Mar 2019 with Soilbuild Group
Former Hondo, Upper Duke St, L1 9DU Developer Fusion Students
No of Rooms 430
Studios or Cluster Cluster/Studios
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates Fully funded scheme on the site of the former Hondo supermarket
PROPOSED/POSSIBLE
Roscoe Street, Ropewalks, L1 9DU Developer Frenson
No of Rooms 111
Studios or Cluster Cluster/Studios
Type of Sale TBC
New Build/Conversion New Build
Build Complete TBC
Comments/Updates New proposed scheme on corner of Roscoe Street/Oldham Street
STALLED/NOT PROGRESSING
The Paramount, London Road, L3 5NF Developer Pinnacle Alliance/Elliot Group
No of Rooms 477
Studios or Cluster 430 cluster/47 studio
Type of Sale Investor
New Build/Conversion New Build
Build Complete STALLED/BOUGHT
Comments/Updates Scheme bought by Elliot Group in July 2019. Await news/progress
PIPELINES Listed below are the current pipelines for the relevant asset class in the city centre and our estimated delivery dates/numbers based upon our market knowledge, schemes, funding etc.
Residential
Stage
Under Construction (ex stalled)
Stalled
Planning Approved
Proposed/Awaiting planning
Total Pipeline
Guaranteed Anticipated
(Under Construction) (City Res view)
Delivery for 2020 2,475 2,625
Delivery for 2021 1,203 1,473
Delivery for 2022 0 1,914
Delivery for 2023 0 1,235
Total Delivery 3,678 7,247
Delivery Dates
RESIDENTIAL PIPELINE
DELIVERY
LIVERPOOL CITY CENTRE
4,601
7,519
6,382
19,130
PIPELINE
628
BTR (Build to Rent)
Stage NUMBER GDV
Built 661 £108,500,000
Under Construction 1,002 £231,000,000
Planning Approved 1,219 £211,000,000
Proposed/Awaiting planning 490 £52,500,000
Total Pipeline 3,372 £603,000,000
Guaranteed Anticipated
(Under Construction) (City Res view)
Delivery by 2018 661 661
Delivery for 2019 0 0
Delivery for 2020 698 698
Delivery for 2021 304 304
Delivery for 2022 0 1,709
Total Delivery 1,663 3,372
BTR PIPELINE
DELIVERY
Delivery Dates
LIVERPOOL CITY CENTRE
Student
Stage
Under Construction (ex stalled)
Stalled
Planning Approved
Proposed/Awaiting planning
Total Pipeline
Guaranteed Anticipated
(Under Construction) (City Res view)
Delivery for 2020 2,132 2,620
Delivery for 2021 566 1,194
Delivery for 2022 0 1,335
Delivery for 2023 0 500
Total Delivery 2,698 5,649
STUDENT PIPELINE
LIVERPOOL CITY CENTRE
PIPELINE
Delivery Dates
2,698
717
1,036
4,939
DELIVERY
488
Finance & Mortgage (As at 5th October 2019)
In association with
0151 548 4448 www.jpfinancialadvice.co.uk
GENERAL
• Although the Bank of England continued to maintain the base rate at 0.75% throughout the third quarter of the year there has been a continued and marked shift downwards in overall mortgage rates. This has been caused by lenders continuing to lower rates to be more competitive as well as lowering of expectations on the future direction of base rates overall. Some of the drops have been substantial falling by around 15%. We are now close to all time low rates such as the 5 year 1.54% from Natwest
BUY to LET
• Buy to let rates mirrored the movement in general mortgage rates with both shorter- longer-term rates falling as lenders chased business from both new and existing landlords. Some of the falls have been substantial with Buy to Let rates now not that far behind the rates being offered on normal mortgages
Normal Mortgages (Buying and remortgaging)
Type Rate Period Fee Max LTV Lender
Variable 2.05% Term £999 65% Coventry Fixed 1.19% 2 Year £995 60% Natwest Fixed 1.44% 3 Year £995 60% HSBC Fixed 1.54% 5 Year £995 60% Natwest Fixed 2.29% 10 Year £995 60% TSB
Buy to Let Mortgages
Type Rate Period Fee Max LTV Lender Variable 1.35% Tracker/2year £1795 60% Barclays
Fixed 1.35% 2 Year £1795 60% Barclays
Fixed 1.47% 3 Year £1995 60% BM Mortgage Sol Fixed 1.86% 5 Year £1995 60% Virgin Money Fixed 2.46% 10 year £1995 60% Virgin Money
The list of available mortgage offers detailed below is purely intended as a guide and is sourced from Moneyfacts and
GoDirect. It is not intended to be a “best buy” table or offer advice it simply highlights some of the mortgage deals that were available on the date shown above which have been recommended by a team of independent experts as their best buys.
Source: Moneyfacts (www.moneyfacts.co.uk) and GoDirect (http://www.godirect.co.uk)
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Written quotations are available from individual lenders. Loans are subject to status and valuation and are not available to persons under the age of 18. All rates are
subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing.
Address Auctioneer Date GUIDE £ SOLD £ FLOOR Beds Baths Parking Rent* Yield
162 The Reach, Leeds St, Liverpool, L3 2DE Sutton Kersh 12/09/2019 £100,000 £103,000 5th 2 1 Yes £725 8.45%
167 The Reach, Leeds St, Liverpool, L3 2DE Sutton Kersh 12/09/2019 £100,000 £100,000 5th 2 1 Yes £625 7.50%
W5 Citygate, Oldham Street, Liverpool, L1 2SU Sutton Kersh 12/09/2019 £110,000 £118,500 1st 2 2 No £630 6.38%
AUCTION RESULTS
Sponsored by Venmore Auctions 0151 329 2676
Next Auction: 17th October 2019 Town Hall Liverpool
Listed below are the auction results for properties (apartments) sold in the quarter in the main city centre postcodes (L1, L2 and L3)
or close periphery – city centre side of (L5, L6, L7 and L8)
*The rent shown is either the actual current rent where the property is let or the anticipated rent if let in the market.
The Reach Citygate
If you wish to buy properties at this level of pricing City Residential Ltd offer a buying service which will enable you to purchase at levels normally
only available to seasoned investors and landlords – ring us for more details.
Headline Blog
“Is this the end of Fractional Sales?” What are Fractional Sales? Fractional sales (or buyer funded deposits) have been utilised heavily across the UK (but particularly in northern UK cities) over the last 5 years. They are essentially an off plan sale of a new build property to an investor who pays more than the standard 10% deposit on exchange. In many cases the buyer has been paying up to 50% on exchanged and more than often another 25% before completion. Hence the other term of buyer funded deposits. Fractional sales are also normally associated with “guaranteed yields” where many developers have been offering guaranteed income/rents often in excess of what is considered open market levels.
Why have so many sales been of the fractional sales type? Developers have seized on the attractiveness of selling schemes using fractional sales as this has helped them develop more units/schemes than through a more traditional funding model. Where they are collecting between 50-75% before completion they are in effect using the buyer’s money to fund the construction of the development. The serious lack of traditional bank funding for residential developments has logically forced many more developers down this route.
So what has gone wrong? We have discussed the issue over stalled schemes in the city (North Point Global, Pinnacle Alliance etc) many times and the majority of these were initially financed using fractional sales. The problem with such schemes is that when they went bust they did so with many buyers having already paid between 50-75% of the purchase price rather than the more traditional 10%. Whilst losing 10% of the purchase prices would have been a bitter pill to swallow for most investors losing between 50-75% can in many cases be devastational especially where it was the investor’s only UK investment.
Are there any other issues/challenges regarding fractional sales? Whilst not definitively linked many fractional sales schemes have been sold with the “benefit” of a guaranteed yield by the developer. Often these guaranteed yields have been offered for a period of 3-5 years at levels of between 7-10%. This has appeared extremely attractive to overseas buyers who have viewed the returns as an additional bonus to any capital growth they may experience during that period. Unfortunately with the vast majority of these sales the quoted yields have been in excess of what is genuinely achievable and have resulted in returns lower than anticipated. Although these investors did at least get the property they had paid for (unlike those in the stalled schemes), disappointing returns have continued to erode confidence in the sector. .
What about the future for Fractional Sales? Over the last 12 months there is no doubt that the use of the fractional sales model has been on the wane. Although Liverpool has suffered a much higher percentage of stalled/problem sites than other UK Cities the model has started to struggle across the board. Investors have become more risk aware than in the past and are looking for those developers where there is a track record of delivery and schemes that are well located and honestly marketed. Although the issues discussed above would suggest that it has become almost impossible to sell off plan property to investors this is not the case. There are numerous developers selling off plan in the city that are selling on a more traditional 10% deposit on exchange (or sometimes up to 20%) and delivering the product in a timely and professional manner. There is still a good strong demand for Liverpool property from both overseas and UK investors but the focus of these buyers will be those developers who can afford to fund schemes with more normal deposits and deliver on their promises.
Summary Brexit continues to dominate the national news and with the deadline of 31st October quickly approaching we will no doubt know in the next few weeks whether we are leaving with or without a deal or perhaps whether we are leaving or not! We continue to highlight that the sales market in the city appears to have become rather immune to the macro picture and performs in line with our expectations. While transaction levels are definitely not booming there appears to be a decent level of buyers and sellers looking to do deals at prices that genuinely reflect the true worth of the asset in question. As is typical for this time of year we have just experienced the annual return of students to the city for the start of the 2019/2020 academic year. Whilst activity levels have been high as usual we can’t help but feel the increased supply of nearly 3,000 student beds and around 1,000 residential units have definitely had an effect on the market. Whilst there are increasing numbers of students and normal residential tenants the increased supply has definitely allowed them to be more particular with what they consider as their homes for the next 9/12 months and beyond. As with most property based decisions it is those well located, decent quality and well managed developments that have prospered whilst the opposite (poorly located, older, badly managed) that have been hit hard. On a slightly less business focused note we are delighted to announce that a team of eight intrepid trekkers have just returned from our trip to Kilimanjaro on behalf of Claire House where we were lucky enough to summit Africa’s highest mountain and the largest freestanding mountain in the world!! Whilst a rewarding trip it was extremely tough especially the six long cold nights living in a tent with constant migraine style headaches! A big thank you to all of you that supported us (we are now over £26,000) and for anyone who has not yet had chance to we would be delighted if you could by using the link below: https://www.justgiving.com/fundraising/alan-bevan2 Alan Bevan Managing Director City Residential October 2019 0151 231 6100 07970 498187 [email protected] www.cityresidential.co.uk NEXT ISSUE: January 2020
OUR CHOSEN CHARITY
City Residential, Liverpool’s leading city centre residential agent have reinforced their long term support for Claire House Children’s Hospice by agreeing to a once a year donation based upon their annual operating profit. Their commitment, that will last indefinitely, sees the firm donate 1% of their pre-tax profits to the Wirral based charity every year. Their first donation saw them presenting a cheque in early 2015 for £3,812.50 to Helen Carlson at Claire House with subsequent donations in 2016, 2017, 2018, 2019 totalling well over £15,000
The ongoing donation from City Residential comes at an important time for Claire House with them having just launched a Liverpool base at a former monastery on Honey’s Green Lane in West Debry. Whilst initially the site – a former will offer day-care services, counselling and complementary therapies, as well as hosting the mums, tots and babies groups. The new hospice is in addition to the current Claire House
Children’s Hospice adjacent to Clatterbridge Hospital, which is already at capacity and difficult to reach for many parents. More than half of the children who use it come from the Liverpool side of the Mersey.
“We have supported Claire House for over 10 years and this long term commitment is the least that we can offer a charity that does such wonderful work in looking after children from all areas of The Northwest” commented Kerry Rogerson-Bevan director of City Residential “Although there are other children’s hospice’s across the UK Claire House is our local children’s hospice and their passion and long term
commitment in providing care to children with life limiting life threatening illnesses is second to none and deserves all of our support” In September/October 2019 we were part of a team that scaled the might Kilimanjaro for Clare House. Together with trekkers from Bruntwood, Box Clever, Urban Splash, K2 architects and BAE Systems we raised well over £26,000 by taking the Lemosho route to the peak which stands at nearly 6,000m. The trek was organised by 360 Expeditions one of the UK’s market leaders in trekking and mountaineering trips around the globe. The trip was headed up by Keith White of 360 on his 2nd trip to climb Africa’s highest mountain and the highest freestanding mountain in the world. We were blessed with good weather throughout the tip but it was still an extremely difficult challenge which we were all glad to have conquered.