A multi-million pound mixed-used Signature Living scheme in Liverpool that collapsed into administration in 2020 before it was completed is back on the market. Tony McDonough reports
A former multi-million pound Signature Living development in Liverpool that collapsed into administration before it was completed has been put on the market.
Manchester-based surveyors Fletcher Bond have been appointed by administrators to find a buyer for 60 Old Hall Street in the city’s commercial district. It comprises 63 apartments, retail space and a gym in the basement.
Signature Living, founded by property developer Lawrence Kenwright, acquired the former office building in 2015 for £1.8m and unveiled plans to convert it into a residential complex with a rooftop gym, complete with running track, and ground floor retail space.
However, early in 2020 the special purpose vehicle called Signature Living Residential that was set up by Signature to oversee the project, collapsed into administration along with a number of other Signature businesses across the city.
According to Fletcher Bond the scheme is at “varying degrees of completion”. It is seeking bids from interested parties with a deadline of Monday, June 20. It has not revealed an asking price.
Located opposite the Capital office building and the new Innside Hotel, 60 Old Hall Street comprises vacant ground floor commercial space suitable for retail or leisure uses with a basement gym which is fully fitted out and apartments to upper floors.
There are 63 apartments on the upper floors inside the existing building which are at varying stages of completion. Some of the apartments are nearly complete to what Fletcher Bond calls a “good standard” with fitted kitchens with appliances, fully equipped bathroom suites with jacuzzi baths and floor coverings and decoration throughout.
It also has planning consent for a four-storey extension on the roof which would increase the number of apartments to 116 in total although that has not been completed. 20 of the apartments have already been sold off to individual buy-to-let investors.
Rory Dillon, managing director of Fletcher Bond, said: “60 Old Hall Street is the best business address in the city and it is hoped that a proactive investor/developer can acquire this building to put it into use.
“The area is improving daily with the new Innside Hotel and rooftop bar across the road and increasing footfall in the city post-pandemic. The ground floor commercial is an easy win to get income producing soon and the demand for the completed apartments will be really strong given the location and good fit out.”