“Crazy Market in a Crazy World!”

“Crazy market in a crazy world!”

LIVERPOOL RESIDENTIAL UPDATE QUARTER 3 2020

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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

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 continued to recover strongly since we re-opened our doors in late May. Our sales rate during August-September has been better than at any time over the last 5/6 years.

• 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 on Wed 8 th July declaring a stamp duty holiday until March 2021 has encouraged more buyers to enter the market (even if there is still a surcharge for second home/buy to let purchases).

• 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. 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 believe.

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

------WIRRAL WATERS

No of Apartments/houses: 347 homes

Type: 2 and 3 bed townhouses

Address: Dock Road, Birkenheard/Wallasey, CH41 1DP

Prices From: TBC/register now

Showhome/sales office: Early 2021

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Completions

DUE TO COVID RESTIRCTIONS AND LOCKDOWN DURING MARCH TO JUNE WE ARE UNABLE TO UPDATE COMPLETIONS UNTIL THE Q 4 REPORT

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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 Late 2020 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 Number of Apartments 55 Apartment Types 1 and 2 bed Type of Sale TBC New Build/Conversion New Build 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 Type of Sale Investor New Build/Conversion New Build 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 New Build/Conversion New Build Build Complete 2021 Comments/Updates Small turnkey scheme for Torus on the edge of Baltic Triangle.

FOR SALE/UNDER CONSTRUCTION

Stanley Dock, Regent Road, Liverpool, L3 0AN Developer Harcourt Developments Number of Apartments 538 Apartment Types Studio, 1 and 2 bed Type of Sale TBC 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 Number of Apartments 122 Apartment Types 1, 2 and 3 bed Type of Sale Investor New Build/Conversion Conversion Build Complete Part complete/2020 Comments/Updates Conversion of former Mersey House overlooking The Strand/3 Graces.

Parliament Square , Great George St, L1 0BS Developer Legacie No of Apartments 505 Apartment Types Studios, 1, 2 and 3 bed Type of Sale TBC New Build/Conversion New Build Build Complete 2021 Comments/Updates Large 12/18 storey mixed use scheme on corner of Baltic Triangle

Clegg Street, Liverpool, L5 3LU Developer Caro No of Apartments 127 Apartment Types Investor Type of Sale TBC New Build/Conversion New Build Build Complete Early 2021 Comments/Updates Adjoining Caro’s City Point student scheme just off St Anne’s Street

FOR SALE/UNDER CONSTRUCTION

Baltic House, Norfolk Street, Baltic Triangle, L1 0BL Developer Crossfield Exclusive Dev Ltd Number of Apartments 126 Apartment Types 1, 2 and 3 bed Type of Sale Investor New Build/Conversion New Build/restart scheme

Build Complete October 2020 Comments/Updates Stalled scheme bought by Crossfield Exclusive and nearly finished.

Parliament Residences (Phase 2), Baltic, L1 0AJ Developer AC Parl St 2 (Assetcorp) Number of Apartments 145 Apartment Types 1, 2 and 3 bed Type of Sale TBC New Build/Conversion New Build Build Complete Late 2020/early 2021 Comments/Updates Residential scheme completing the block of residential in this location

Fabric District Residences , Liverpool, L3 8HA Developer YPG No of Apartments 208 Apartment Types Studio apartments Type of Sale Investor New Build/Conversion New Build Build Complete Early 2021 Comments/Updates Located on Devon Street and spread over 9 floors

Norfolk House PH 3/EPIC, Baltic, L1 0AR Developer Elliot Group/EPIC Hotel Number of Apartments 306 bed hotel and apartments Apartment Types Hotel and apartments Type of Sale Investor New Build/Conversion New Build Build Complete TBC Stalled? Comments/Updates Final phase of a 3 phase scheme in the heart of Baltic Triangle.

FOR SALE/UNDER CONSTRUCTION

Victoria House, James Street, Liverpool, L1 6BD Developer AR & V Investments Number of Apartments 63 Apartment Types Studios and 1 bed Type of Sale Investor New Build/Conversion Conversion Build Complete 2021 Comments/Updates Former stalled site purchased for a co living scheme

Herculaneum Quay, Riverside Drive, L3 4ED Developer Primesite Developments Number of Apartments 123 Apartment Types 1,2 and 3 bed Type of Sale Predominately Investor New Build/Conversion New Build Build Complete 2021 Comments/Updates Striking scheme in south Liverpool docks with views across the river

Fabric Residence , Fabric District, Liverpool, L3 8HA Developer YPG No of Rooms 449 Apartment Types Studio, 1 and 2 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC Comments/Updates Previously consented student scheme now proposed residential

RESIDENTIAL DEVELOPMENTS 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 Type of Sale TBC New Build/Conversion New Build & Conversion Build Complete TBC Comments/Updates Will probably be a mixed-use scheme including BTR blocks

Park Lane, 1 Park Lane, Liverpool, L1 5EX Developer Valorem IP Number of Apartments 90 (amended scheme) Apartment Types Studio, 1, 2 and 3 bed Type of Sale TBC New Build/Conversion New Build & Conversion Build Complete TBC Comments/Updates Recent amended application for a hotel together with 90 apartments

The Tannery, Gardeners Row, Liverpool, L3 6JH Developer Niveda Realty/Vinco Number of Apartments 381 Apartment Types Studio, 1 and 2 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC 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 Apartment Types Studio, 1, 2 and 3 bed Type of Sale PRS or investors New Build/Conversion Predominately new build Build Complete TBC Comments/Updates £150/£200 million mixed use redevelopment of former Cain’s Brewery.

POTENTIAL/FUTURE SCHEMES

Hughes House, Liverpool, L3 8JE Developer Town Square Developments Number of Apartments 252 Apartment Types Studio, 1 and 2 bed Type of Sale TBC/Investor New Build/Conversion New Build Build Complete TBC Comments/Updates Proposals to demolish the TJ Hughes store and new build replacement

VIA VERDE, Leeds St/Vauxhall, Pumpfields, L3 6BA Developer Mees Demolition/Eldonian Number of Apartments 1308 Apartment Types Studio, 1, 2 and 3 bed Type of Sale Investor or PRS New Build/Conversion New Build Build Complete TBC Comments/Updates Large mixed-use scheme with 55,000 sq ft commercial space.

Eclipse, Baltic Triangle, L1 5HA Developer TBC Number of Apartments 217 Apartment Types Studio, 1 and 2 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC Comments/Updates Redesign of a previously consented residential scheme in Baltic

Kingsway Square, Blackstock Street, Vauxhall, L3 6EE Developer Sourced Number of Apartments 452 Apartment Types Studio, 1 and 2 bed Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates Large resi scheme adjacent to Liberty Atlantic Point student village

POTENTIAL/FUTURE SCHEMES

Former Bogans, Baltic Triangle, L1 5HA Developer Miami Ltd/Iliad Number of Apartments 156 Apartment Types Studio, 1 and 2 bed Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates New Baltic residential scheme with 4 commercial units to ground floor.

St Anne’s Garden’s, St Anne Street, Liverpool, L3 3DY Developer Elatus Development Group Number of Apartments 319 Apartment Types 1, 2 and 3 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC Comments/Updates Large scheme adjacent to ongoing Fox Street Village development.

Azure/Rose Place, off St Anne St, Liverpool, L3 3BN Developer Legacie Developments Number of Apartments 127 Apartment Types Studio 1 and 2 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC Comments/Updates New scheme off St Anne St/Likely to be replaced with student scheme

Queens Dock, Chaloner Street, L3 4BE Developer TBC Number of Apartments 192 Apartment Types Studio, 1 and 2 bed Type of Sale PRS or Investor New Build/Conversion New Build Build Complete TBC Comments/Updates Overlooking Queens Dock adjacent to Leo’s Casino. Site for sale

POTENTIAL/FUTURE SCHEMES

Ovatus 1, Old Hall Street/Leeds St Developer Prospect Capital/Wilcocks Number of Apartments 168 (phase 1) Apartment Types Studio, 1, 2 and 3 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC Comments/Updates Phase 1 of double tower scheme. SITE FOR SALE

Ovatus 2, Old Hall Street/Leeds St Developer Prospect Capital/Wilcocks Number of Apartments 530 (phase 2) Apartment Types Studio, 1, 2 and 3 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC 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 Number of Apartments 277 Apartment Types Studio, 1 and 2 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC Comments/Updates Large residential scheme close to Project Jennifer regeneration

Freemasons Row, Leeds St, Liverpool, L3 2DJ Developer Vinco Number of Apartments 656 Apartment Types Studio, 1,2 3 bed apartments Type of Sale Investor New Build/Conversion New Build Build Complete TBC/Unlikely to happen

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

POTENTIAL/FUTURE SCHEMES

Norton’s, Flint Street, Baltic, L1 0DH Developer Chaloner St Developments Number of Apartments 638 Apartment Types 1, 2 and 3 bed Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates Large prominent mixed-use scheme on corner of Baltic Triangle

35 Bridgewater Street, Baltic, L1 0AJ Developer Eloquent Global/For sale Number of Apartments 43 Apartment Types 1, 2 and 3 bed apartments Type of Sale Private Sale New Build/Conversion Conversion & New Build Build Complete 2020/TBC Comments/Updates Nice conversion in heart of Baltic Triangle. SITE FOR SALE

Brunswick Way, Docklands , L3 4BL Developer NWIA Number of Apartments 240 Apartment Types 1 and 2 bed Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates Stunning new docklands scheme in Liverpool Marina. SITE FOR SALE

Baltic Place, Brassey St , Liverpool, L8 5XP Developer Caro Number of Apartments 176 Apartment Types 1 and 2 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC Comments/Updates On the edge of the Baltic Triangle. Site bought from receivers

POTENTIAL/FUTURE SCHEMES

Riverside, Sefton Street , Liverpool, L8 6UD Developer Eloquent Global Number of Apartments 198 Apartment Types 1 and 2 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC Comments/Updates Replacing former car garage on Sefton Street. SITE FOR SALE

Bevington Bush Scotland Road L3 6JH Developer Bevington Developments Ltd No of Apartments 614 Apartment Types Studio, 1, 2 and 3 bed Type of Sale Investor/BTR New Build/Conversion New Build Build Complete TBC Comments/Updates Formerly a proposed student scheme now residential. SITE FOR SALE

The Metalworks, Pumpfields, L3 6DL Developer Acentus RE/Respect-Hipkiss Number of Apartments 312 Apartment Types Studio, 1 and 2 bed Type of Sale Investor Sale New Build/Conversion New Build Build Complete TBC Comments/Updates Large residential scheme comprising 11/13 storey blocks.

VAUXHALL, Oriel St/Paul St, Liverpool, L3 6DU Developer Smith Young No of Apartments 240 Apartment Types Studios, 1 and 2 bed Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates Large mixed-use scheme proposed for Vauxhall. SITE FOR SALE

POTENTIAL/FUTURE SCHEMES

Plot C02 Central Docks, Liverpool Waters Developer Romal Capital Number of Apartments 646 Apartment Types 1 and 2 bed Type of Sale Investor/Owner Occupiers New Build/Conversion New Build Build Complete TBC Comments/Updates Next phase of this groundbreaking Liverpool Waters scheme

Pall Mall, 70-90 Pall Mall, Liverpool, L3 6AE Developer Elliot Group Number of Apartments 800 Apartment Types 1, 2 and 3 bed Type of Sale Investor New Build/Conversion New Build Build Complete STALLED/restart shortly Comments/Updates Site purchased by ELLIOT Group after NPG administration

Aspire, Waterloo Road/Paisley St, L3 7BA Developer Living Brick Ltd Number of Apartments 140 Apartment Types 1, 2 and 3 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC 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 Apartment Types 1 and 2 bed Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates Potential new tower scheme site of existing offices. SITE FOR SALE

POTENTIAL/FUTURE SCHEMES

Brunswick Quay, Atlantic Way, Liverpool L3 4BE Developer Maro No of Apartments 552 Apartment Types 1, 2 and 3 bed Type of Sale TBC New Build/Conversion New Build Build Complete TBC 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 Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates Potential new tower scheme on site of existing offices in Baltic

The Roscoe, Roscoe Street, Liverpool, L1 2SX Developer Central & Regional Group Number of Apartments 82 Apartment Types 1 and 2 bed Type of Sale Investor New Build/Conversion New Build Build Complete TBC Comments/Updates Attractive scheme on Roscoe Street adjoining City Gate development.

2 Riverside Drive, Liverpool, L3 4DB Developer TBC Number of Apartments 457 Apartment Types Studio, 1 and 2 bed Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates Large potential resi scheme on site of Chung Ku. SITE FOR SALE

STALLED/NOT PROGRESSING

Infinity, Lanyork Rd/Leeds Street, Liverpool, L3 6JB Developer Elliot Group Number of Apartments 1015 Apartment Types Studio, 1, 2 and 3 bed Type of Sale Investor/owner occupier New Build/Conversion New Build Build Complete STALLED/In administration Comments/Updates Striking and ambitious new 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 New Build/Conversion New Build 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 Number of Apartments 115 Apartment Types 1 and 2 bed Type of Sale Investor New Build/Conversion Conversion Build Complete STALLED/\await news Comments/Updates Refurbishment of the “ugly duckling” into residential scheme

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

0151 231 6100

RESIDENTIAL LETTINGS

Positives

• Market has recovered well since May with activity levels not far off “normal” for this time of year and ahead of our expectations given the challenges of Covid.

• As the city’s universities promised “near normal” courses/studies for the 2020/21 academic year (between May to August) student occupancy levels remained strong.

• Availability levels of apartments is high offering potential tenants a good choice of apartments across most price ranges.

• Rents have fallen slightly/some decent deals are available from landlord’s keen to secure lettings during the summer period and thereby offering greater affordability than we have seen previously.

• 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 whilst most tenants 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).

• Evidence suggests that many tenants are still unsure as to their future job prospects (many are still furloughed) especially after the announcement on 12 th October of the Liverpool City Region having entered the very highest tier of restrictions.

• The effects of Covid-19 on the fabric of the city could be devastating especially if further lockdowns are required. 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 believe.

RESIDENTIAL SCHEMES to LET ------ALEXANDRA TOWER

No of Apartments:70 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

------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 £575-£650 all inclusive rents

Furnished/Unfurnished : Furnished Car Parking: No

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

------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 • 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

Strand House, 21 Strand St, Liverpool, L2 0PP Developer Panacea Property Number of Apartments 391 Fund Invesco Apartment Types 1, 2 and 3 bed New Build/Conversion New Build 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 Number of Apartments 304 Fund Apache Apartment Types Studio, 1, 2 and 3 bed New Build/Conversion New Build Build Complete 2021 Comments/Updates 34 storey £82 million GDV scheme in Princes Dock/Liverpool Waters

Blundell Street, Baltic, L1 0AJ Developer Brickland/Heitman Number of Apartments 200 Apartment Types 1, 2 and 3 bed Fund Heitman New Build/Conversion New Build Build Complete Late 2020/Early 2021 Comments/Updates Large new Baltic scheme including commercial & 116 car park spaces.

UNDER CONSTRUCTION

The Eight Building, Glenville St, Baltic, L1 5JR Developer Iliad Number of Apartments 120 Fund Self-funded Apartment Types 1, 2 and 3 bed New Build/Conversion New Build Build Complete 2021 Comments/Updates Follow up BTR residential scheme to adjoining built student scheme.

PROPOSED

The Keel (PHASE 2), Queens Dock, Liverpool, L3 4GE Developer Glenbrook Number of Apartments 257 Fund Barings Real Estate Apartment Types 1, 2 and 3 bed New Build/Conversion New Build Build Complete TBC Comments/Updates 2nd phase of The Keel with two buildings overlooking Queens Dock

Aspire, 30-36 Pall Mall, L3 6AE Developer Anwyl Construction/Brickland Number of Apartments 336 Fund TBC Apartment Types Studio, 1, 2 and 3 bed New Build/Conversion New Build Build Complete TBC Comments/Updates Stunning 22 storey scheme opposite proposed Pall Mall Exchange

Patagonia Place, Princes Dock, Liverpool, L3 1DZ Developer Your Housing/Peel Number of Apartments 278 Fund Self funded Apartment Types 1, 2 and 3 bed New Build/Conversion New Build Build Complete TBC Comments/Updates Newly proposed 31 storey £48 million scheme replacing The Hive

POPULATION Residential

CITY CENTRE CORE Number of built PROPERTIES (city centre core) 15,053 Number of OWNER OCCUPIED properties 4,349 Number of TENANTED properties 9,301 Number of VACANT Properties 990 VACANCY Rate 7% Number STUDENTS (living in non PURPOSE BUILT units) 3,798 Number STUDENTS (living in PURPOSE BUILT units) 19,600 Number of Units let to SERVICED APARTMENT operators 413 Total Number of City Centre Residents 45,563

City Centre Core

EXPANDED CITY CORE Number of Properties Built (all areas) 18,286 Number of OWNER OCCUPIED Properties 5,735 Number of TENANTED Properties 10,818 Number of VACANT Properties 1,320 VACANCY Rate 7% Number of STUDENTS (living in non PURPOSE BUILT units) 4,614 Number of STUDENTS (living in PURPOSE BUILT units) 22,216 Number of Units let to SERVICED APARTMENT operators 413 Total Number of City Centre Residents 52,146

Student

STUDENT POPULATION 2018/2019 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 2011/2019 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% 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, only slightly below 19/20.

• 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. 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”.

STUDENT SCHEMES to LET 0151 231 6100 ------

SHAFTESBURY APARTMENTS

No of Apartments/Rooms: 39 Apartments

Type: 1 and 2 bed apartments

Address: Mount Pleasant, Liverpool, L3 5SA

Bills included: No

Rents from : £650 per month (20/21) ------

2 MOORFIELDS

No of Apartments/Rooms: 68 studios

Type: Self contained studios across three floors

Address: 2 Moorfields, Liverpool, L2 2BS

Bills included: Yes

Rents from : £575-£650 per month all inclusive rents

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STUDENT DEVELOPMENTS

UNDER CONSTRUCTION/PROGRESSING

Kaplan, Paddington Village, Knowledge Quarter, L7 Developer Kaplan/LIC No of Rooms 259 Studios or Cluster Studio Type of Sale Self fund New Build/Conversion New Build Build Complete Late 2020 Comments/Updates £35million development in the emerging Paddington Village/KQ district

Devon House, Fabric District, Liverpool, L3 8HA Developer Yu Property Group No of Rooms 218 Studios or Cluster Predominantly cluster Type of Sale Investor New Build/Conversion New Build Build Complete Late 2020 Comments/Updates Situated fronting Islington on the edge of the emerging Fabric district

Renshaw Hall, Benson Street , Liverpool, L1 2SS Developer Niveda Realty No of Rooms 404 Studios or Cluster Studios and clusters Type of Sale Fund New Build/Conversion New Build Build Complete Late 2020 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 Type of Sale Investor New Build/Conversion New Build Build Complete 2021 Comments/Updates Redevelopment of former National Express bus centre with two blocks

UNDER CONSTRUCTION/PROGRESSING

Copperas Hill Police Station, Liverpool, L3 5LD Developer Carpenter Investments No of Rooms 206 Studios or Cluster Mixed student/cluster Type of Sale Retain New Build/Conversion New Build Build Complete 2021 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 New Build/Conversion New Build Build Complete Sep 2021 Comments/Updates Forward funding deal announced in Mar 2019 with Soilbuild Group

STUDENT DEVELOPMENTS PROPOSED/POSSIBLE

3 Oldham Place, Liverpool, L1 2TD Developer Oldham Place Ltd No of Rooms 117 Studios or Cluster Studios Type of Sale TBC New Build/Conversion New Build Build Complete TBC 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 Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates Controversial scheme heavily objected to due to conservation area

PROPOSED/POSSIBLE

Crown Street/Falkner St, Liverpool, L8 7SX Developer Elliot Group No of Rooms 106 keyworker/182 student Studios or Cluster Mixed student/key worker Type of Sale TBC New Build/Conversion New Build Build Complete TBC 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 Type of Sale TBC New Build/Conversion New Build Build Complete TBC Comments/Updates Fully funded scheme on the site of the former Hondo supermarket

Gildart Street, Gildart Street , Liverpool, L3 8AG Developer Gildart Street Ltd No of Rooms 53 Studios or Cluster Cluster/Studios Type of Sale TBC New Build/Conversion New Build Build Complete TBC 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 Type of Sale Investor New Build/Conversion New Build Build Complete TBC 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 Type of Sale Investor New Build/Conversion New Build Build Complete STALLED/BOUGHT Comments/Updates Scheme bought by Elliot Group in July 2019. Await news/progress

The Rise, Low Hill, Liverpool L6 1BP Developer TBC No of Rooms 141 Studios or Cluster Predominantly cluster Type of Sale Investor New Build/Conversion New Build Build Complete TBC/SITE BEING SOLD Comments/Updates High-profile location close to new Royal Hospital. NOW STALLED

Aura, Low Hill, Liverpool L6 1AU Developer Elliot Group/investors Number of Rooms 1007 (student units) Studios or Cluster Predominantly cluster Type of Sale Investor New Build/Conversion New Build Build Complete NOW STALLED/SITE BOUGHT Comments/Updates Mixed Use scheme stalled and now being bought out of administration

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 RESIDENTIAL PIPELINE LIVERPOOL CITY CENTRE Stage PIPELINE Under Construction (ex stalled) 3,403 Stalled 2,328 Planning Approved 8,127 Proposed/Awaiting planning 3,584 Total Pipeline 17,442 DELIVERY Guaranteed/Likely Anticipated Delivery Dates (Under Construction) (City Res view) Delivery for 2020 694 694 Delivery for 2021 1,467 1,467 Delivery for 2022 1,245 1,804 Delivery for 2023 0 1,200 Total Delivery 3,406 5,165

BTR (Build to Rent) BTR PIPELINE LIVERPOOL CITY CENTRE 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 DELIVERY Guaranteed/Likely Anticipated Delivery Dates (Under Construction) (City Res view) Delivery for 2019 661 661 Delivery for 2020 698 698 Delivery for 2021 424 424 Delivery for 2022 0 0 Delivery for 2023 0 1,121 Total Delivery 1,783 2,904

Student STUDENT PIPELINE LIVERPOOL CITY CENTRE Stage PIPELINE Under Construction (ex stalled) 1,855 Stalled 1,680 Planning Approved 1,138 Proposed/Awaiting planning 366 Total Pipeline 5,039 DELIVERY Guaranteed/Likely Anticipated Delivery Dates (Under Construction) (City Res view) Delivery for 2020 553 553 Delivery for 2021 1,302 2,982 Delivery for 2022 0 445 Delivery for 2023 0 1,023 Total Delivery 1,855 5,003 Finance & Mortgage (As at 12 th October 2020)

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 moved out strongly relative to previous quarters as lenders have looked to protect their margins against the continual negative effects of near 0% base rates. • First time buyers continue to be squeezed out of the market with the number of 5% and 10% deposit mortgages reducing dramatically. In mid-October there were barely 50 mortgage offers for 10% deposit mortgages compared with over 750 in March! • 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. 33 % 2 Year £1999 60% Cumberland Fixed 1. 38 % 2 Year £1495 60% Natwest Fixed 1.69% 3 Year £999 60% Leeds Fixed 1. 55 % 5 Year £995 60% RBS/Natwest Fixed 2.32% 10 Year £999 60% 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 1.67% 3 Year £1995 60% Virgin Fixed 1. 94% 5 Year £1995 75 % 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 subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing.

AUCTION RESULTS Sponsored by Venmore Auctions 0151 329 2676 Next Auction: 27 th October 2020

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)

Address Auctioneer Date GUIDE £ SOLD £ FLOOR Beds Baths Parking Rent* Yield 44 Baltic Studios, 7 Bridgewater St, L1 0AS Venmore 15/07/2020 £40,000 £43,000 3rd studio 1 No £550 15.35% 14, 24 Fenwick Street, Liverpool, L2 7NE Venmore 15/07/2020 £55,000 £58,500 5th Stu/1 1 No £575 11.79% 17 Bispham House, Lace Street, L3 2BP Allsop 16/07/2020 £80,000 £88,000 3rd 3 1 No £850 11.59%

*The rent shown is either the actual current rent where the property is let or the anticipated rent if let in the market.

Baltic Studios 24 Fenwick St Bispham House

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. Headline Blog/Summary

“Crazy market in a crazy world!”

The last six months have proved to be some of the most challenging times that we have experienced in 20 years in business. Beginning with the lockdown in March, the subsequent reopening in May and the recent entry into the “dreaded" Tier 3 local lockdown, 2020 will go down as a year to forget. Despite the tough times it is imperative that we consider those less fortunate, those businesses in hospitality/retail/leisure and, most importantly, those that have lost friends, family, and colleagues.

The effect of Covid on the property market in the city has been noticeable, if not quite as we would have expected. If anyone had told us in March that the 4/5 months between May/October would have been our most successful selling period for over 10 years we would have seriously questioned their judgement. Yet that is exactly what has happened. Although the majority of us have assumed that Rishi Sunak’s stamp duty holiday announcement is wholly responsible may be missing some other factors driving the demand. There is plenty of cash floating round the market and given the volatility of the stock market, property still appeals to many people. There are plenty of investors looking to snap up any bargains as well. Contrary to popular opinion there are also plenty of buyers who don’t agree that “city centre’s are finished” like many doom merchants believe, especially when the see the value the city offers in comparison to the booming prices of the better suburbs. We will look at the future of Liverpool as a place to live in the next issue.

The lettings market, although not as crazy as the sales market, has also been very difficult to predict. Whilst we did expect the upper end of the market to suffer due to lower numbers of overseas students this year, the lower/middle end has performed ahead of expectations. Thankfully, the vast majority of UK students arrived, although the subsequent lockdown, move to virtual lectures and uncertainty over Christmas leave continues to weigh heavily on the market.

Certainly a “crazy market for crazy times” and here’s to some normality in 2021 and beyond whatever that looks like! As always during these tough times we hope that you are safe and well and wherever you can give your time and support for those in need.

Alan Bevan Managing Director City Residential October 2020 0151 231 6100 07970 498187 [email protected] www.cityresidential.co.uk

NEXT ISSUE: January 2021 – Looking at the future of Liverpool as a pace to live

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 September/October 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 2 nd 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.