A former Taskers retail store and car park in Liverpool with redevelopment potential has been brought to market.
The 4.6-acre site, which is located on Wavertree Road in Edge Hill, comprises a vacant 120,000 sq ft retail warehouse and a surface level car park.
The site is suitable for a broad range of uses – subject to planning – including residential, build-to-rent, affordable housing, purpose-built student accommodation (PBSA), offices, laboratory, education and hotel. Taskers will consider unconditional offers and subject to planning proposals.
The site is close to Paddington Village in the Knowledge Quarter and offers excellent access to Liverpool city centre.
Andrew Byrne, director in CBRE’s office agency team in Liverpool, which has been instructed to market the site, said: “This represents a key opportunity to acquire a strategically-located site which is suitable for numerous redevelopment opportunities including offices and commercial. There has been limited levels of new build development and demand has therefore been restricted to existing building refurbishments. Undersupply in the Liverpool office market has seen demand levels being unmet and there remains a feeling that we need to tap into this unmet potential in the region.
“Demand in the laboratory market over the last two years has averaged 105,000 sq ft which far outstrips current supply. Modern occupiers are seeking accommodation that is delivered within a well-curated ecosystem, that satisfies their demands for good location, high quality, resilient and sustainable lab facilities.
“This site opens up opportunities for the laboratory sector with the provision of lab space available very much concentrated into five principle buildings/developments/business parks with three of the five located in Liverpool city centre and within the Knowledge Quarter.”
Claire Robinson, associate director in CBRE’s UK development and residential team, added: “The Liverpool residential market has benefitted from a high level of investment and development over the past decade, with the majority of new schemes situated in central Liverpool. There is, however, limited new development surrounding Mount Vernon Road, with the exception of the Paddington Village residential offering. This site represents an opportunity for more residential development to serve a growing population, predominantly young people aged 20-34 years, and a high proportion of renters.
“The site can also support the residential market serving students studying at the city’s five higher education institutions. The existing supply for student beds in Liverpool falls short of meeting the current demand with more than 10,000 PBSA beds still needed and this site has the potential to bridge that gap by providing modern amenities in a convenient location.”
