The former Liverpool HM Revenue & Customs building has been bought by Moorfield Group, on behalf Moorfield Real Estate Fund III.

The group is set to work with Glenbrook Property to convert the building into a total of 240 apartments for the private rented sector.

Charles Ferguson Davie, chief investment officer at Moorfield, said:

“Queens Dock offers an excellent opportunity to redevelop a unique building on the waterfront district of Liverpool.

“This is a landmark asset in Liverpool’s thriving city centre and part of a larger strategic push into the private rented sector for funds managed by Moorfield. Works will begin immediately, underlining our commitment to this scheme and the city of Liverpool.”

Ian Sherry, managing director of Glenbrook Property, said:

“Since identifying this opportunity, our team has worked hard to design a scheme that will deliver a superior specification in the most fantastic setting on Liverpool’s renowned waterfront.

“We are delighted that Moorfield share our vision and confidence in the scheme and we look forward to working together.”

Mark Smith, chief executive of Mapeley Estates, added:

“We are delighted to have found a regeneration solution that allows Queens Dock to have a continued beneficial life providing quality apartments for Liverpool city centre residents.

“Faced with a very tough economic environment over the last few years, this sale represents an excellent outcome for all parties involved and especially so for Liverpool as a city. This development is important for the ongoing regeneration of waterfront around the Queens Dock building and builds on the momentum initiated through the successful Kings Dock masterplan.”

Source: Insider Media

Image source: Bdaily