A multi-million pound mixed-used development on the site of the iconic Parr Street Studios in Liverpool moves a step closer after the sale of an adjacent building. Tony McDonough reports
A deal that has seen a Liverpool city centre building change hands may prove to be the catalyst for a multi-million pound redevelopment scheme.
The English Province of the Congregation of Christian Brothers charity has sold the 4,000 sq ft 55 Parr Street to a private buyer for an undisclosed sum. The deal was facilitated by agents at Fisher German.
It paves the way for the partial demolition and redevelopment of the iconic Parr Street Studios into a mixed-used complex. Subject to planning permission, 33 to 45 Parr Street will become apartments, an aparthotel and retail units.
Built in the 1930s, Parr Street studios has been used by leading pop and rock acts over the years including Echo & the Bunnymen, Coldplay, Black Sabbath, Diana Ross, Moby, Pulp, The Charlatans, Doves, Take That and The Beautiful South.
While 55 Parr Street is not included in the redevelopment plans, the building forms part of the wider eight-storey development and has existing planning permission to be demolished and replaced as part of an older plan.
David Laws, partner at Fisher German, said: “The building had become surplus to the needs of the Christian Brothers. The decision to sell the property came at an opportune time with the plans for the surrounding area starting to take shape.
“This sale will enable the wider redevelopment to take place – subject to planning permission – and will help regenerate Liverpool’s vibrant Ropewalks.”
This mixed use scheme by developer, PJ Percival Construction would offer 56 one- and two-bedroom apartments and 20 one and two-bed aparthotel suites. There would also be a restaurant, sauna, spa, pool, gym, lounge, and bar.
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It would also include 8,700 sq ft of flexible working space and a function room. The ground floor of the building would comprise 6,000 sq ft of commercial space across three units.
Solicitors Hill Dickinson acted for the Christian Brothers during the transaction while Glenville Walker & Partners acted on behalf of the buyers. Architects on the new scheme are Footprint Design.