with consent for Both 42 & 58 Hope Street - Liverpool

Transcription

1 Prime development opportunity with consent for Both student residential & hotel uses

2 executive summary The Hahnemann Building & 58 Hope Street are Grade II listed buildings located within Liverpool s Knowledge Quarter. Hope Street connects Liverpool s two Cathedrals and forms a spine road connecting major campuses for a number of Universities and Colleges. Established hotel and leisure destination within a quarter mile of Liverpool s prime retail area. Planning approval for both a 50 bedroom boutique hotel conversion and a 100 bedroom student residential scheme. Existing income generated from short-term flexible office lettings. Offers sought in excess of 3,250,000 (subject to contract) Contact: Chris Bathurst, Christopher Dee Mike Mitchell, DTZ executive summary

3 location Hope Street, Liverpool stretches from the City's Roman Catholic Metropolitan Cathedral up to and beyond the Anglican Cathedral. It is the local high street of the City s Knowledge Quarter. Hope Street won Britain s Great Street award in last year s Academy of Urbanism Awards. There is a lively mix of uses in the area including boutique hotel, restaurants, bars and two of Liverpools most famous theatres The Unity, in Hope Place and the renowned Everyman Theatre. The world renowned Royal Liverpool Philharmonic Hall is located diagonally opposite the property at the corner of Hope Street and Myrtle Street. Hope Street forms a spine road separating the two major campuses of The University of Liverpool and Liverpool John Moores University, as well as being home to The Liverpool School of Performing Arts and Liverpool Community College. Given the mix of activities along Hope Street and its accessibility to the city centre, it makes an ideal location for a variety of uses. 1 hope street

4 1 Radisson Blu 2 Mal Maison 3 Crowne Plaza 4 Thistle Atlantic 5 Indigo Boutique Hotel 6 Hard Day s Night 7 Hilton Hotel 8 Marriott Hotel 9 Holiday Inn 10 Travel Lodge Hotel 11 Britannia Adelphi Hotel 12 The Liner Hotel 13 Hope Street Hotel 14 Small Boutique Hotels 15 Moorfields Station 16 James Street Station 17 Liverpool ONE Bus Station 18 Central Station 19 Anglican Cathedral 20 LIPA 21 The Liverpool Philharmonic 22 Metropolitan Cathedral 23 Everyman Theatre 24 Liverpool John Moores University 25 University of Liverpool Campus 26 Liverpool Science Park 27 The Philharmonic Pub 28 Central Village Development 29 Liverpool Community College 30 China Town 2 AERIAL OVERVIEW

5 THE STRAND JAMES STATION AL5036 STRAND LIVERPOOL ONE HANOVER CHURCH B5339 LIME BOLD LiVERPOOL LIME STATION LiVERPOOL CENTRAL STATION 6 B5038 COPPERAS HILL BROWNLOW HILL RENSHAW 3 RUSSELL 1 1 METROPOLITAN CATHEDRAL OXFORD ROAD 2 AL5040 PARADISE PARK LANE AL561 DUKE LEECE BERRY HAHNEMANN BUILDING HARDMAN RODNEY 4 5 HOPE MYRTLE AL5039 CATHERINE WAPPING 7 ST JAMES 9 AL5038 UPPER DUKE 8 ANGLICAN CATHEDRAL CANNING AL Liverpool John Moores University Liverpool University Campus CHALONER AL5036 AL5037 JAMAICA PARLIAMENT BERRY AL561 ST JAMES PLACE AL562 TO LIVERPOOL JOHN LENNON AIRPORT UPPER PARLIAMENT PRINCES ROAD B Liverpool Science Park The Philharmonic Pub The Philharmonic Hall Central Village Development Liverpool Community College Liverpool Institute of Performing Arts China Town 3 location

6 description The Hahnemann Hospital was built in 1887 as a general hospital and dispensary, prescribing treatment according to the alternative medicine doctrines of Samuel Hahnemann ( ), developed in Europe in the late 18th and early19th centuries. Today, the interior remains largely unchanged and many original details, including an early hydraulic lift, survive. More recently, the building was part of Liverpool John Moores University, with the former wards being used by the Liverpool School of Art and Design. The building is in the Queen Anne Revival Style with red brick elevations and stone dressings beneath a Welsh slate roof. The property is currently configured as a business centre and offers a variety of cellular office units. accommodation The property currently provides the following net internal floor area: Hahneman Bldg 58 Hope Street SQ FT SQ MS SQ FT SQ MS Basement 5, Ground Floor 5, , First Floor 4, , Second Floor 4, , Third Floor 3, ,156 2,151 5, description

7 Tenure Freehold Title numbers: MS Hope Street MS The Hahnemann Building, 42 Hope Street Income The property has recently been run as a successful business centre, offering flexible office accommodation on short term iicenses. The property currently generates a gross annual income of 118,776 pa via 17 separate agreements. In order to facilitate redevelopment, our client has undertaken a policy of obtaining vacant possession. Accordingly 22 suites are currently vacant, which could add an additional 108,300 pa, ie a total gross rent of 227,076 pa. 5 tenure & income

8 student accommodation BoutiQue hotel 6 development options

9 uk student market The number of students in the Higher Education (HE) system has increased from 1.99M IN 2000/01 to 2.53m in 2011/12 (the last year of published HESA data) Of these students, approximately 63% (1.59m) study on a full time courses. The importance of non-eu students as a part of the UK student population is increasing over time, rising from a steady 7% in 2000/01 to 13% in 2010/11. Around 35% of the full time students (550,00) from the UK study in a region which is different from their home domicile. In addition, most international students (of whom there are 361,000 in the UK) study full time and require accommodation for the duration of their stay. UCAS announced in January 2013 that there has been a 3.5% increase in applications to HE for the 2013/14 academic year compared to the same time last year. liverpool Liverpool is a vibrant city and home to approximately 70,000 students. The four Universities provide a superb diversity of courses and research to students. University of Liverpool One of the original six red brick universities 30,000 students enrolled Over 6,000 international students Plans to invest 600 million in its facilities in the next 10 years Rated in the worlds top 1% of Higher Educational Institutions LJMU Liverpool John Moores University One of the largest educational establishments in the UK 24,000 students enrolled 1920 overseas students 24 million investment programme underway Rated in the worlds top 400 higher educational institutions LIPA Liverpool Institute for the Performing Arts 6,000 applications from UCAS in students enrolled 200 overseas students Investment programme includes the recent purchase of the adjacent, purpose built former Liverpool College of Art buildings Liverpool Hope University 8,000 students enrolled Over 350 international students 112th in the UK for size of student population Ongoing investment programme hahnemann Building Planning consent was granted by Liverpool City Council on the 29 / 10 / 2013 for the reconfiguration of Hahnemann Building and 58 Hope Street to student accommodation. The consented scheme will provide the following room configurations. Room type Number Independent Studios 93 Cluster Units 2 Duplex Units 1 Total Units 96 Total Beds 100 A variety of specifications & room layouts to maximise lettable area and utilize the features of the building. The individual room sizes vary from 15.1 m 2 to 34.6 m 2 and average m 2. Ground floor security/management suite. Communal courtyard 5 number DDA accessible studios 30 internal cycle parking spaces 7 student accommodation

10 8 student lower ground floor

11 9 student upper ground floor

12 10 student first floor

13 11 student second floor

14 12 student third floor

15 13 student third floor

16 liverpool hotel market hahnemann Building Liverpool historically enjoys high visitor rates from overseas and brits alike. Visitor numbers have over the last 5 years increased year on year. In 2012 there were over 55 million visitors to the Liverpool City Region. In 2012 the visitor economy was worth over 3.1bn to the Liverpool City Region. In 2011 approximately 43,300 jobs were supported by visitor. spend. Liverpool is in the top 10 of all UK towns or cities visited by overseas visitors. Such is the growth in the hotel/restaurant industry Liverpool has recently opened the L20 Hotel School specializing in courses, apprenticeships and management training specifically to cater for burgeoning visitor numbers. Average hotel room occupancy in 2012 was 70%. Over 1.1m hotel bedroom nights were sold in Liverpool City Centre in Liverpool ONE, the retail and leisure development in the City Centre welcomed it s 100,000,000th visitor in Sales and footfall in 2013 were up by 5.4% and 4.4% respectively. Planning consent was granted by Liverpool City Council in September 2009 (Ref:09F/0932) and renewed in February 2012 for the reconfiguration of Hahnemann Building and 58 Hope Street to a 50 bedroom Boutique Hotel with ancillary restaurant, bar, conference and spa facilities. There are 50 double rooms in total. Out of these 5 are suites with separate lounges and 4 are duplex suites with separate sitting areas. The consented scheme will provide the following room configurations: 58 Hope Street has a 48 cover restaurant to the rear with a further 40 cover bar/dining area. There are further bar lounge facilities in 58 Hope St and in the main Hahnemann Building which also features an external garden terrace area to the rear. A spa is located in the lower ground area. This comprises of 5 spa treatment rooms, a relaxation room, steam/sauna and wet spa. There are conferencing facilities at ground floor level. The Hahnemann Building is located next door to the 80 bed, 4 Star Hope Street Hotel. This is one of Liverpool s foremost hotels and has won several awards. 14 BoutiQue hotel

17 15 hotel lower ground

18 16 42 hotel upper ground & 58 Hope Street - Liverpool

19 17 hotel first floor

20 18 hotel second floor

21 19 hotel third floor

22 20 hotel fourth floor

23 ProPosal Our client is seeking a figure of 3,250,000 ( Three million, two hundred and fifty thousand pounds) for the freehold interest. vat VAT is not payable on the purchase price. section 106 contributions There are no Section 106 Agreements required as part of the Hotel planning consent. There is a Section 106 Agreement for the Student Accommodation planning consent, with an contribution of 275, to Liverpool City Council. Details of which can be provided. contact Christopher Bathurst cb@christopherdee.co.uk 40 Peter Street Manchester M2 5GP +44 (0) Mike Mitchell mike.mitchell@dtz.com 1 Marsden Street Manchester M2 1HW +44 (0) Notice The agents for themselves and for the vendors of this property whose agents they are give notice that: these particulars do not constitute, nor constitute any part of, an offer or a contract. The maker of these statements has taken all reasonable steps and exercised all due diligence in the preparation of these statements. None of the statements contained in these particulars as to this property is to be relied upon as statements or representations of fact. All measurements are approximate and any intending Purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. Any service or installations, mechanical, electrical or otherwise, described within these particulars have not been tested and Purchasers should rely on their own inspection and verification. The vendors do not make or give and neither the agents nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to this property. November 2013 Subject to Contract 21