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.
A thriving CCTV and business technology provider in the North West is experiencing a surge in demand for its specialised services.
This company is a leader in distributing cutting-edge test and measurement products, boasting high client retention and a skilled team eager to remain post-sale. With significant growth potential through sector expansion and enhanced marketing.
This is a rare chance to acquire a thriving recruitment agency with a solid reputation in East Sussex.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.