Fri, 17 Jul 2020 | COMMERCIAL PROPERTY
The Crash Rehearsal Studio space in Liverpool has been put up for sale, with Manchester-based surveyors Fletcher Bond managing the auction. The building, which was previously known as Imperial Warehouses, is being sold after its owner Mantra Homes went into receivership in January.
The studio was opened in the Davies Street building by Mark Davies and Jonathan White in 1987 and hosted prominent acts including Echo and the Bunnymen and Lou Reed. The studios closed in 2018 and developer Mantra Homes received approval to turn the four-storey building, which dates from 1878, into a 34-room aparthotel.
Plans included a ground-floor restaurant and bar, a basement recording studio and a musical “walk of fame”, along with a two-storey extension. However, the building is now being sold as part of the ongoing administration proceedings for Fundingsecure, which provided a 2018 loan for the property to a special purpose vehicle owned by Mantra.
Fundingsecure appointed administrators in October, who are now in the process of realising outstanding loans from debtors. Mantra’s loan is one of three that it took out from Fundingsecure in 2017 and 2018.
While an asking price has not been set, Fletcher Bond are inviting offers for the 14,000 square foot property, located close to Liverpool’s main shopping area, the Metquarter.
Fletcher Bond Managing Director Rory Dillon said: “Imperial Warehouses is one of Liverpool’s hidden gems with an amazing history and many original features. It is in a prime city centre location and not only has permission for conversion to an aparthotel but also has previous consent for use as a gym.”
“However because of its large, flexible floorplates, it would suit a whole range of other uses – from offices, a youth hostel or student accommodation to a nightclub or a pop-up leisure venue. It’s an exciting opportunity for a new owner to give this iconic building a new lease of life.”
One of the best ways to find properties below market price is to look at recent administrations.
Utilises a team of experienced drivers to provide tailored logistics solutions, with a focus on home delivery services, whilst also offering complementary warehouse solutions. Serves 20 active clients from a wide range of sectors, including retail, i...
Established for over 50 years.Provides a range of automotive electrical services including air conditioning, heating, tachographs, security systems, vehicle tracking and reversing aids for vehicle, plant and marine industries. Over 100 active clients...
Provides freight forwarding for a range of sectors, as well as warehousing and an array of other complementary services. Serves over 20 clients, with an 80% retention rate.Strong second-tier management team in place. Generates revenue on an internati...
PPL Corporation has announced that it has put its UK utility...
Samworth Brothers has completed the £6.4 million acqui...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources