Can Liverpool bounce back?

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“Can Liverpool bounce back?”

LIVERPOOL RESIDENTIAL UPDATE

QUARTER 4 2020

Twitter.com/cityresidential

Facebook.com/cityresidential

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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 region. 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. We have been operating for over 20 years from Liverpool’s largest, most prominent, and modern showroom:

• 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

• Student sales, lettings, and consultancy advice

For further information contact Alan Bevan on 0151 231 6100 or 07970 498187

[email protected] www.cityresidential.co.uk

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Register for details now

[email protected]

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RESIDENTIAL SALES

As the majority of the last quarter continues to be dominated by Covid-19 we have decided to summarise the main issues affecting the market from both a positive and negative perspective allowing you to see at a glance the effects the pandemic has had on the residential market in the city.

Positives

• Market has plateaued a little after the surge in activity we experienced during the second

half of 2020 which is to be expected given huge increase in activity we experienced.

• There appears to good interest from most purchasers, whether these be first time

buyers, new investors, or experienced investors. .

• Some landlords are keen to sell given the challenges of the rental market thereby

offering some good quality, well established stock for sale.

• Continued low interest rates, and the likelihood that this will continue indefinitely, is

making property purchases in the city extremely affordable.

• The government’s announcement in July 20 declaring a stamp duty holiday until March

2021 had encouraged more buyers to enter the market. There is now an active debate as to whether this may be extended given the issues created by the current lockdown.

• The challenges of the market over the coming months/years will almost certainly reduce

the pipeline of new developments which in turn should take some of the pressure off new supply.

Negatives

• The challenges in the rental market are resulting in an increase in supply of property for

sale which, if not matched by an increase in buyers, may ultimately cause prices to fall.

• The “carnage” in the short term/Airbnb and serviced apartment sector is now

encouraging some landlords/investors/operators to sell their apartments/schemes, again potentially increasing the supply in the city.

• The market continues to suffer from the fall out of the Grenfell Tower/cladding issues

with many apartment blocks currently unsaleable/unmortgageable until the cladding is renewed. EWS1 forms have become extremely difficult to obtain.

• Some buyers are deferring a potential purchase until they understand the effect of

Coivd-19 on the market in terms of pricing, supply, and sustainability of the city.

• The effects of Covid-19 on the fabric of the city could be devastating, especially if further lockdowns are required/lockdowns last longer than anticipated. The city has prospered on its reputation as a vibrant, exciting, and friendly place to live, something which could be under threat should the effects of Covid-19 be more severe than we currently anticipate.

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RESIDENTIAL SCHEMES for SALE

0151 231 6100

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PERCY PLACE

No of Apartments/houses: 6 houses Type: 4 bed houses

Address: Percy Street, Canning, Liverpool, L8 7SE House Prices From : £464,950

Showhome/apartment: Via Appointment

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WIRRAL WATERS

No of Apartments/houses: 347 homes Type: 2, 3 and 4 bed townhouses

Address: Dock Road, Birkenheard/Wallasey, CH41 1DP Prices From: Register now on 0151 231 6100

Sale Pavilion: Spring 2021

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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.

Sales

Price Paid

City Centre Prices and Completions from ZOOPLA

£149,063

£164,409

£179,399

Change

L1

Current average value

L2

Current average value

£171,022

CITY CENTRE

Current average value

Change

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For more information on advertising or sponsorship

Contact

Joanne Shannon

[email protected]

0151 231 6100

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RESIDENTIAL DEVELOPMENTS

FOR SALE/UNDER CONSTRUCTION

Kings Dock Mill Phase 2,

Hurst Street, Baltic, L1 8DN

Developer YPG

Number of Apartments 204

Apartment Types 1,2 & 3 bed and townhouses

Type of Sale Investor

New Build/Conversion New Build

Build Complete Spring 2021?

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

Apartment Types 1 and 2 bed

Type of Sale TBC

Build Complete Early 2021

Comments/Updates 11 Storey scheme on vacant land adjoining Kings Dock Mill phase 2.

One Baltic Square

, Grafton St, L1 0BS

Developer YPG

No of Apartments 301

Apartment Types Studios, 1, 2 and 3 bed

Build Complete 2021/2022 – Stalled??

Comments/Updates Large 6/9 storey scheme close to Cain’s STALLED??

St James Street,

Baltic, L2 2HT

Developer Crossfield/Torus

Number of Apartments 56 apartments

Apartment Types TBC

Type of Sale RSL

Build Complete 2021

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FOR SALE/UNDER CONSTRUCTION

Stanley Dock,

Regent Road, Liverpool, L3 0AN

Developer Harcourt Developments

Apartment Types Studio, 1 and 2 bed

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

Apartment Types 1, 2 and 3 bed

Build Complete Part complete/2021

Comments/Updates Conversion of former Mersey House overlooking The Strand/3 Graces.

Parliament Square

, Great George St, L1 0BS

Developer Legacie

Apartment Types Studios, 1, 2 and 3 bed

Comments/Updates Large 12/18 storey mixed use scheme on corner of Baltic Triangle

Poet’s Place,

Clegg Street, Liverpool, L5 3LU

Developer Caro

Apartment Types Investor

Build Complete Early/Mid 2021

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FOR SALE/UNDER CONSTRUCTION

Baltic House,

Norfolk Street,Baltic Triangle, L1 0BL

Developer Crossfield Exclusive Dev Ltd

New Build/Conversion New Build/restart scheme

Build Complete January 2021

Comments/Updates Stalled scheme bought by Crossfield Exclusive and nearly finished.

Fabric District Residences

, Liverpool, L3 8HA

Developer YPG

Apartment Types Studio apartments

Build Complete Early/Mid 2021

Comments/Updates Located on Devon Street and spread over 9 floors

Norfolk House PH 3,

Norfolk St, Baltic, L1 0AR

Developer Elliot Group/EPIC Hotel

Number of Apartments 306 bed hotel and apartments

Apartment Types Hotel and apartments

Build Complete TBC Stalled?

Comments/Updates Final phase of a 3 phase scheme in the heart of Baltic Triangle.

Victoria House,

James Street, Liverpool, L1 6BD

Developer AR & V Investments

Apartment Types Studios and 1 bed

Type of Sale Retain for letting

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FOR SALE/UNDER CONSTRUCTION

Herculaneum Quay,

Riverside Drive, L3 4ED

Developer Primesite Developments

Apartment Types 1,2 and 3 bed

Type of Sale Predominately Investor

Build Complete 2021?

Comments/Updates Striking scheme in south Liverpool docks AWAIT NEWS/PROGRESS

Element The Quarter

, Low Hill, Liverpool, L6 1EJ

Developer Nexus/Legacie

Build Complete TBC

Comments/Updates Old Primesite scheme bought out of administration by JV. Redesigned

The Roscoe,

Roscoe Street, Liverpool, L1 2SX

Developer Central & Regional Group

Comments/Updates Attractive scheme on Roscoe Street adjoining City Gate development.

RESIDENTIAL DEVELOPMENTS

POTENTIAL/FUTURE SCHEMES

Fabric Residence

, Fabric District, Liverpool, L3 8HA

Developer YPG

No of Rooms 449

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POTENTIAL/FUTURE SCHEMES

Heaps Mill,

1 Park Lane, Liverpool, L1 5EX

Developer Valorem IP

Number of Apartments 400 (amended scheme)

Apartment Types Studio, 1, 2 and 3 bed

New Build/Conversion New Build & Conversion

Comments/Updates Will probably be a mixed-use scheme including BTR blocks

2 Riverside Drive,

Liverpool, L3 4DB

Developer TBC

Comments/Updates Large potential resi scheme on site of Chung Ku. SITE FOR SALE

Marlborough Street,

Liverpool, L1 5HA

Developer SEP Construction Ltd

Apartment Types Studios

Comments/Updates Small 45-unit scheme located in the heart of Marybone/Vauxhall

Voyager,

120 Waterloo Road, Liverpool, L3 7BA

Developer TBC

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POTENTIAL/FUTURE SCHEMES

Park Lane,

1 Park Lane, Liverpool, L1 5EX

Developer Valorem IP

Number of Apartments 90 (amended scheme)

New Build/Conversion New Build & Conversion

Comments/Updates Recent amended application for a hotel together with 90 apartments

The Tannery,

Gardeners Row, Liverpool, L3 6JH

Developer Niveda Realty/Vinco

Comments/Updates Trio of buildings comprising three towers. SITE FOR SALE

Brewery Village (Cains),

Baltic, L8 5XJ

Developer Cains Brewery Village

Number of Apartments 1400/1500

Type of Sale PRS or investors

New Build/Conversion Predominately new build

Comments/Updates £150/£200 million mixed use redevelopment of former Cain’s Brewery.

Hughes House,

Liverpool, L3 8JE

Developer Town Square Developments

Type of Sale TBC/Investor

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POTENTIAL/FUTURE SCHEMES

Via Verde,

Leeds St/Vauxhall

,

Pumpfields, L3 6BA

Developer Mees Demolition/Eldonian

Type of Sale Investor or PRS

Comments/Updates Large mixed-use scheme with 55,000 sq ft commercial space.

New Bird Street,

Baltic Triangle, L1 5HA

Developer Crosslane/Waites

Comments/Updates New proposal for 379-unit co-living scheme replacing 217-unit scheme

Kingsway Square,

Blackstock Street, Vauxhall, L3 6EE

Developer Sourced

Comments/Updates Large resi scheme adjacent to Liberty Atlantic Point student village

Duke’s Village,

Bridgewater Street, L1 0AR

Developer Elliot Group

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POTENTIAL/FUTURE SCHEMES

St Anne’s Garden’s,

St Anne Street, Liverpool, L3 3DY

Developer Elatus Development Group

Comments/Updates Large scheme adjacent to ongoing Fox Street Village development.

Azure/Rose Place,

off St Anne St, Liverpool, L3 3BN

Developer Legacie Developments

Apartment Types Studio 1 and 2 bed

Comments/Updates New scheme off St Anne St/Likely to be replaced with student scheme

Queens Dock,

Chaloner Street, L3 4BE

Developer TBC

Type of Sale PRS or Investor

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)

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POTENTIAL/FUTURE SCHEMES

Ovatus 2,

Old Hall Street/Leeds St

Developer Prospect Capital/Wilcocks

Number of Apartments 530 (phase 2)

Comments/Updates Will be Liverpool’s tallest scheme at 48 storeys. SITE FOR SALE

Great Homer St/Virgil St

, Liverpool L5 5BY

Developer The Soller Group

Comments/Updates Large residential scheme close to Project Jennifer regeneration

Freemasons Row,

Leeds St, Liverpool, L3 2DJ

Developer Vinco

Apartment Types Studio, 1,2 3 bed apartments

Build Complete TBC/Unlikely to happen

Comments/Updates Large residential scheme in Pumpfields fronting onto Leeds Street.

Norton’s,

Flint Street, Baltic, L1 0DH

Developer Chaloner St Developments

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POTENTIAL/FUTURE SCHEMES

35 Bridgewater Street,

Baltic, L1 0AJ

Developer Eloquent Global/For sale

Apartment Types 1, 2 and 3 bed apartments

Type of Sale Private Sale

New Build/Conversion Conversion & New Build

Build Complete 2021/TBC

Comments/Updates Nice conversion in heart of Baltic Triangle. SITE FOR SALE

Brunswick Way,

Docklands

,

L3 4BL

Developer NWIA

Comments/Updates Stunning new scheme in Liverpool docklands. SITE SALE AGREED

Baltic Place, Brassey St

, Liverpool, L8 5XP

Developer Caro

Comments/Updates Site bought from receivers by Caro for proposed new £25m scheme

Riverside, Sefton Street

, Liverpool, L8 6UD

Developer Eloquent Global

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POTENTIAL/FUTURE SCHEMES

Bevington Bush

Scotland Road L3 6JH

Developer Bevington Developments Ltd

Type of Sale Investor/BTR

Comments/Updates Formerly a proposed student scheme now residential. SITE FOR SALE

The Refinery,

Oriel St/Paul St, Liverpool, L3 6DU

Developer Smith Young

Apartment Types Studios, 1 and 2 bed

Comments/Updates Large mixed-use scheme proposed for Vauxhall. SITE FOR SALE

Plot C02

Central Docks, Liverpool Waters

Developer Romal Capital

Type of Sale Investor/Owner Occupiers

Comments/Updates Next phase of this groundbreaking Liverpool Waters scheme

Pall Mall,

70-90 Pall Mall, Liverpool, L3 6AE

Build Complete STALLED/restart shortly

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POTENTIAL/FUTURE SCHEMES

Aspire,

Waterloo Road/Paisley St, L3 7BA

Developer Living Brick Ltd

Comments/Updates 17 Storey development close to Liverpool Waters/new link road

Highpoint,

24 Highfield St, L3 6AA

Developer TBC

Number of Apartments 150-200

Comments/Updates New tower scheme on site of existing offices. SITE FOR SALE

Brunswick Quay,

Atlantic Way, Liverpool L3 4BE

Developer Maro

Comments/Updates Large new build scheme on a prominent site in south docklands

Blundell Street,

Baltic Triangle, Liverpool, L1

Developer Taylor Highdale

Number of Apartments 86 apartments

Apartment Types 1,2 and 3 bedroom

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STALLED/NOT PROGRESSING

Infinity,

Lanyork Rd/Leeds Street, Liverpool, L3 6JB

Type of Sale Investor/owner occupier

Build Complete STALLED/In administration Comments/Updates Striking and ambitious scheme with anticipated £250million GDV.

New Chinatown,

Great George Street, L1 7AG

Developer Great George St Developments

Number of Apartments 466 apartments & 37 townhouses

Apartment Types Studio, 1,2 and 3 bedroom

Type of Sale Investor/Mixed Use

Build Complete STALLED/New owners Comments/Updates New planning proposals approved to kick start this former stalled site

60 Old Hall Street,

Liverpool, L3 9PP

Developer Signature Living

Build Complete STALLED/\await news Comments/Updates Refurbishment of the “ugly duckling” into residential scheme

Parliament Residences

(Phase 2), Baltic, L1 0AJ

Developer AC Parl St 2 (Assetcorp)

Build Complete 2021/STALLED

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STALLED/NOT PROGRESSING

The Metalworks,

Pumpfields, L3 6DL

Developer Acentus RE/Respect-Hipkiss

Type of Sale Investor Sale

Build Complete TBC/STALLED?

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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 £875, 3 beds £1200

Unfurnished and furnished apartments available

FOR SALE

(all prices are from)

2 beds £179,950

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RESIDENTIAL LETTINGS

Positives

• Following on from a reasonably strong 3rd quarter the 4th quarter was more subdued

predominantly due to the challenges presented by Covid. There continues to be however a decent enough demand for rental property from existing tenants.

• Availability levels of apartments is high offering potential tenants a good choice of

apartments across most price ranges, types and location.

• Rents have fallen slightly/some decent deals are available from landlord’s keen to secure

lettings during the quarter and thereby offering greater affordability than we have previously seen.

• The vast majority of landlords/tenants have dealt with the effects of Covid-19 very well

with landlords showing leniency and compassion to those tenants who are suffering. Most tenants meanwhile have continued to pay their rents unless they genuinely require financial assistance/support.

Negatives

• There has been a higher than normal increase in tenants leaving their apartments due

to Covid-19. This is predominately due to job uncertainty/affordability and has been particularly noticeable in those working in the hospitality/retail/leisure sectors.

• The “carnage” in the short term/Airbnb and serviced apartment sector is now

encouraging some landlords/investors/operators to let their apartment on an AST/normal rental basis.

• There continues to be an increase in supply of rental product being delivered by the

completion of new apartment schemes although this may well slow over the coming months/years.

• There has been a noticeably lower number of overseas students coming to the city (as

expected given the current Covid situation). This has impacted strongly on the upper end of the market (apartments in the likes of One Park West, Mann Island etc). Studio apartments are also struggling due to an oversupply in some areas/locations.

• Evidence suggests that many tenants are still unsure as to their future job prospects

(many are still furloughed) especially after the announcement on 4th_{January 2021 of}

another lockdown that may well last until Easter.

• The effects of Covid-19 on the fabric of the city could be devastating, especially if further lockdowns are required/lockdowns last longer than anticipated. The city has prospered on its reputation as a vibrant, exciting, and friendly place to live something which could be under threat should the effects of Covid-19 be more severe than we currently anticpate.

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RESIDENTIAL SCHEMES to LET

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ALEXANDRA TOWER

No of Apartments:190 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

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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 £550-£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: £900

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/progress made on schemes which continue to highlight the attractiveness of Liverpool as a BTR location

• Brickland/Heitman deal – Construction progressing extremely well with lettings now

being taken/show apartment due to open shortly

• Eight Building (Iliad) – Construction progressing well after Legacie takes over following

the administration of the previous contractor (Forrest)

• Construction progressing very well on The Lexington (Moda/BCEGI) and Strand House

(Panacea/Invesco/Graham’s).

• Planning now approved for a newly designed scheme at Princes Dock for Your Housing

to be named Patagonia Place replacing the former Hive scheme

UNDER CONSTRUCTION

The Copper Building,

21 Strand St, Liverpool, L2 0PP

Developer Patten/Invesco/Greystar

Fund Invesco

Build Complete Spring 2021

Comments/Updates Located fronting The Strand with views across Albert Dock/Mann Island

The Lexington,

Princes Dock, Liverpool Waters, L3 1DZ

Developer Moda Living

Fund Apache

Build Complete Late 2021

Comments/Updates 34 storey £82 million GDV scheme in Princes Dock/Liverpool Waters

Baltic Yard,

Blundell Street

,

Baltic, L1 0AJ

Developer Brickland/Heitman

Fund Heitman

Build Complete Spring 2021

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UNDER CONSTRUCTION

The Eight Building,

Glenville St, Baltic, L1 5JR

Developer Iliad

Fund Self-funded

Comments/Updates Follow up BTR residential scheme to adjoining built student scheme.

PROPOSED

The Keel

(PHASE 2), Queens Dock, Liverpool, L3 4GE

Developer Glenbrook

Fund Barings Real Estate

Comments/Updates 2nd_{phase of The Keel with two buildings overlooking Queens Dock}

Aspire,

30-36 Pall Mall, L3 6AE

Developer Anwyl Construction

Fund TBC

Comments/Updates Stunning 22 storey scheme opposite proposed Pall Mall Exchange

Patagonia Place,

Princes Dock, Liverpool, L3 1DZ

Developer Your Housing/Peel

Fund Self funded

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POPULATION

Residential

City Centre Core

15,179 4,367 9,262 1,137 7% 3,792 19,600 413 45,565

Number of Units let to SERVICED APARTMENT operators Total Number of City Centre Residents

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 CITY CENTRE CORE

18,412 5,753 10,779 1,467 8% 4,599 22,216 413 52,148 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) Number of TENANTED Properties

Number of OWNER OCCUPIED Properties

Total Number of City Centre Residents Number of VACANT Properties Number of Properties Built (all areas)

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Student

STUDENT LETTINGS

Positives

• The fact that the city’s universities promised “near normal” courses/studies for the

2020/21 academic year ensured good student intake numbers, slightly below 19/20. Some student landlords are offering discounts due to lockdowns (Unite, Student Roost etc).

• Availability levels of apartments was high offering potential students a good choice of

apartments whereby in previous years there was minimal availability.

• Although there are challenges ahead for the city it remains an attractive, vibrant place to

study and offers some of the lowest rent levels for purpose-built student accommodation across the UK.

• The development pipeline for student developments in the city was slowed dramatically

hopefully allowing the supply/demand picture to improve over the next few years.

Negatives

• International student numbers are substantially lower than last year/previous years. This

has had a disproportionate effect on the higher end of the market which is where many of these students chose to rent.

• Due to outbreaks of Covid amongst the students (and particularly in student halls) the

universities have now moved to virtual learning. This may increase the fall out rate especially if future lockdowns/restrictions on movement remain.

• The effects of Covid-19 on the fabric of the city could be devastating especially if further

lockdowns are required/lockdowns last longer than anticipated. The city has prospered on its reputation as a vibrant, exciting, and cultured place to live something which could be under serious threat should we not be able to return to something like the previous “normal”.

2018/19 Postgrad Undergrad Full-time Part-time UK Other EU Non EU Total The University of Liverpool 6,960 22,735 26,255 3,440 20,980 1,005 7,710 29,695 Liverpool John Moores University 4,565 19,465 19,840 4,190 22,255 455 1,320 24,030 Liverpool Hope University 1,235 3,865 4,545 560 4,920 110 70 5,100 The Liverpool Institute for Performing Arts 10 810 820 0 635 30 155 820 Liverpool School of Tropical Medicine 420 0 160 260 245 35 140 420 TOTAL STUDENTS 13,190 46,875 51,620 8,450 49,035 1,635 9,395 60,065

STUDENT POPULATION 2018/2019

UNIVERSITY/YEAR 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 Inc/Dec % The University of Liverpool 20,590 20,875 21,345 22,715 24,775 27,070 28,795 29,695 3.13% Liverpool John Moores University 25,855 22,585 21,315 20,635 21,880 22,445 23,225 24,030 3.47% Liverpool Hope University 7,400 6,540 6,240 5,550 4,940 5,240 5,200 5,100 -1.92% The Liverpool Institute for Performing Arts 720 730 720 715 720 745 795 820 3.14% Liverpool School of Tropical Medicine 425 430 435 420 -3.45% TOTAL STUDENTS 54,565 50,730 49,620 49,615 52,740 55,930 58,450 60,065 4.51%

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STUDENT DEVELOPMENTS

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

Comments/Updates Redevelopment of former car park 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

Build Complete Summer 2021

Comments/Updates Redevelopment of former National Express bus centre with two blocks

Copperas Hill Police Station,

Liverpool, L3 5LD

Developer Carpenter Investments

No of Rooms 206

Studios or Cluster Mixed student/cluster

Type of Sale Retain

Comments/Updates Construction well under way on site of this former police station

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

Build Complete Sep 2021

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STUDENT DEVELOPMENTS

PROPOSED/POSSIBLE

3 Oldham Place,

Liverpool, L1 2TD

Developer Oldham Place Ltd

No of Rooms 117

Studios or Cluster Studios

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

Comments/Updates Controversial scheme heavily objected to due to conservation area

Crown Street/Falkner St,

Liverpool, L8 7SX

No of Rooms 106 keyworker/182 student

Studios or Cluster Mixed student/key worker

Comments/Updates Attractive scheme close to Liverpool University & Women’s hospital

Former Hondo

, Upper Duke St, L1 9DU

Developer Fusion Students

No of Rooms 430

Studios or Cluster Cluster/Studios

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PROPOSED/POSSIBLE

Gildart Street,

Gildart Street

,

Liverpool, L3 8AG

Developer Gildart Street Ltd

No of Rooms 53

Studios or Cluster Cluster/Studios

Comments/Updates Small scheme located in up and coming Fabric District area of the city

Azure/Rose Place,

off St Anne St, Liverpool, L3 3BN

Developer Legacie Developments

Number of Rooms 280

Studios or Cluster Studio 1 and 2 bed

Comments/Updates New student scheme to replace previously consented resi scheme

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

Build Complete STALLED/BOUGHT

Comments/Updates Scheme bought by Elliot Group in July 2019. Await news/progress

Aura,

Low Hill, Liverpool L6 1AU

Developer Elliot Group/investors

Number of Rooms 1007 (student units)

Studios or Cluster Predominantly cluster

Build Complete NOW STALLED/SITE BOUGHT Comments/Updates Mixed Use scheme stalled and now bought out of administration

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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

BTR

(Build to Rent)

Student

Stage

Under Construction (ex stalled) Stalled

Planning Approved Proposed/Awaiting planning

Total Pipeline

Guaranteed/Likely Anticipated

(Under Construction) (City Res view)

Delivery for 2021 2,013 2,013 Delivery for 2022 883 1,750 Delivery for 2023 0 1,200 Total Delivery 2,896 4,963 17,419 PIPELINE 2,607 Delivery Dates RESIDENTIAL PIPELINE DELIVERY

LIVERPOOL CITY CENTRE 3,345 8,687 2,780 Stage NUMBER GDV Built 776 £129,500,000 Under Construction 1,007 £231,000,000 Planning Approved 1,121 £177,000,000 Proposed/Awaiting planning 250 £52,500,000 Total Pipeline 3,154 £590,000,000 Guaranteed/Likely Anticipated

Delivered for 2019 661 661 Delivered for 2020 115 115 Delivery for 2021 1,007 1,007 Delivery for 2022 0 0 Delivery for 2023 0 1,121 Total Delivery 1,783 2,904 DELIVERY Delivery Dates

LIVERPOOL CITY CENTRE BTR PIPELINE

Stage

Under Construction (ex stalled) Stalled

Planning Approved Proposed/Awaiting planning

Total Pipeline

Guaranteed/Likely Anticipated

Delivery for 2021 1,388 1,388

Delivery for 2022 1,007 1,495

Delivery for 2023 0 1,249

Total Delivery 2,395 4,132

STUDENT PIPELINE LIVERPOOL CITY CENTRE

PIPELINE Delivery Dates 2,395 1,138 366 4,431 DELIVERY 532

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Finance & Mortgage

(As at 12th_{January 2021)}

0151 548 4448

www.jpfinancialadvice.co.uk

The effect of the coronavirus Covid 19 has had on the market

• The rates on normal mortgages have stabilized in comparison to previous quarters and

still offer very competitive rates, especially for those borrowers with decent deposits.

• First time buyers continue to be squeezed out of the market with the number of 5% and

10% deposit mortgages having reduced dramatically over the last 12 months, although this is starting to improve as lenders move back into the market.

• The rates and availability of buy to let mortgages appears to have held up slightly

better than normal purchase/remortgage mortgages. Lenders increasingly appear keen to capitalize on this sector, albeit with a continual requirement for large deposits (the best rates are available for those landlords with a minimum 40% deposit).

Normal Mortgages

(Buying and remortgaging)

Type Rate Period Fee Max LTV Lender

Variable 1.39% 2 Year £999 60% Nationwide

Fixed 1.29% 2 Year £995 60% Natwest

Fixed 1.35% 3 Year £999 60% Leeds

Fixed 1.29% 5 Year £1495 65% Virgin

Buy to Let Mortgages

Type Rate Period Fee Max LTV Lender

Variable 1.95% 2 Year £1999 60% Principality Fixed 1.19% 2 Year £1995 60% Mortgage Works

Fixed 2.44% 10 year £1995 60% Leeds

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

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AUCTION RESULTS

0151 329 2676

Next Auction: 17

th

_{February 2021 ONLINE}

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.

Mann Island

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.

Address Auctioneer Date GUIDE £ SOLD £ FLOOR Beds Baths Parking Rent* Yield

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Headline Blog/Summary

“Can Liverpool bounce back?”

Covid 19 has had a devastating effect on our whole way of life, not only city centres throughout the UK but the entire population, many businesses, and institutions. Whilst there was a hope/belief that 2021 would bring us back to “normal” we now find ourselves in our 3rd_{lockdown since March 2020 together with the prospect of not emerging from the latest} restrictions until mid-spring 2021 at the earliest. This will mark a full 12 months of misery, frustration, devastation and, most importantly, loss of life and damage to both the physical and mental health of a huge proportion of the population.

Many commentators have “written off” city centres highlighting their belief that people will not return to their offices (home working has become the norm), will continue to avoid large crowds (even post vaccine) and would prefer to spend the rest of their lives in the leafy suburbs (not everyone can afford to live in a leafy suburb!). Whilst we don’t disagree that the virus has impacted city centre life more than most, we do believe that these commentators are wrong. Flexible working will become more standard but for many city workers the city is a huge part of their life, both professionally and socially. We speak to many employees who are desperate to get back to working, shopping, and socializing like in the old days!

Dealing specifically with Liverpool we share our thoughts below which we believe highlights our belief that the city can and will recover.

Leisure and hospitality

The leisure and hospitality sector has been ravaged by the virus (or by the lockdowns to deal with the virus!). The stop start nature of the restrictions and lockdowns has resulted in many businesses struggling to make ends meet or, in the worst case, failing and going bust. Many individual restaurants and local restaurant chains having expanded dramatically during the last 5 years as the sector boomed leaving themselves cruelly exposed when their income has devastated by the pandemic. This is a major problem for a city like Liverpool that depends hugely on its reputation as being a lively, vibrant location to live, work and play. Turning the problem on its head however, highlights that this may ultimately become a positive rather than a negative. Many northern cities rely on their strong institutional employers (banks, solicitors, accountants etc) something that Liverpool does not. Whilst these other northern cities may take a lot longer to recover (as workers take their time to return to offices and companies reduce their office space), Liverpool can continue to offer to its residents, workers, and visitors a wonderful range of restaurants, bars, cafes and culture. Yes, we will lose some great businesses before we emerge from the lockdown, but the city’s reputation and attractiveness are too strong for it not to recover, especially as many customers will be looking to make up for the last 12 months!

Students

Students have also been hit particularly hard by the pandemic with stop start education, broken promises and even accommodation lockdowns! The city relies on overseas students nearly as much as any other in the UK and international travel has been almost impossible during the last 9/12 months. Whilst student numbers have been affected for 20/21 there will be an even larger number of students looking to take up studies in 21/22, assuming we have seen the back of the virus by then. At this point we strongly believe that we will see the continued rise in both student numbers and the city’s reputation as one of the best value, vibrant and most popular places to study in the UK.

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Value for money

We have mentioned before that there has been a “rush” by many buyers and tenants to the suburbs. We would be the first to understand the attraction of the leafy suburbs during lockdowns, when shops and restaurants are closed, and people are working from home. We would disagree however, that Liverpool city centre does not offer many of these attractions itself with numerous parks and our wonderful river frontage offering plenty of space to exercise without the crowds. Whilst we have seen some tenants move back home or to the suburbs it is substantially lower than many commentators would have you believe!

This flight to the suburbs has pushed prices of both house sales and rentals substantially higher and certainly way beyond where we would have expected them to be when we had our first lockdown in March 2020. When the lockdowns are over, and some normality returns both buyers and tenants will begin to realize the value the city offers in relation to the suburbs. There was already a decent gap between the two and this has only been growing during the last 6 months. Judging by the performance of the sales market during the last 6 months many buyers are already trying to take advantage of this (accepting that this has been driven by the stamp duty holiday offered by the chancellor). Tenants will no doubt follow during 2021 especially as house prices have become ever more unaffordable to many during the pandemic.

Entrepreneurial

The final point which we think will help the city recover is also perhaps the most important. Liverpool has gone from being a troubled city to a great city over the last 20 years (we’ve been here for all that time and can remember the bad old days!) and has discovered the benefits of its hard work, investment and endeavors. A huge element of the city’s renaissance has been due to the entrepreneurial spirt that lives in the city. Whilst we may not have the huge employers, corporate HQ’s and institutional strength many UK cities do have, we have a real belief that our entrepreneurial spirit and SME business growth we have seen over the last 5/10 year will continue post lockdown.

Whilst we are optimistic that the city will recover, we certainly do not underestimate the challenges ahead. We have said before, and will reiterate, that continual or further lockdowns could tip the balance against many of those entrepreneurial business owners, even the most determined and optimistic ones! We also have our own challenges, not least the political mess that exploded during the last quarter when Mayor Joe Anderson was arrested and subsequently bailed on the 4th_{December in connection with bribery/witness} intimidation. The potential risk of damage to the reputation of the city is obvious and is something we could most certainly do without at this time when the city has more pressing challenges to deal with!

Whilst writing we hope that you, your family, and your friends are all safe, healthy and manding to deal with these challenging times as well as you can and hope that 2021 becomes the year when we emerge from one of the darkest and most challenging times in living memory. Alan Bevan Managing Director City Residential January 2021 0151 231 6100/07970 498187 [email protected] www.cityresidential.co.uk

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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 November 2019, we were part of a team that scaled the mighty Kilimanjaro for Clare House. Together with trekkers from Bruntwood, Box Clever, Urban Splash, K2 architects and BAE Systems we raised well nearly £30,000 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.