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.
Operates a comprehensive fleet of vehicles, including single and double-decker coaches, midi-coaches and minibuses. Strong team of qualified and experienced employees. Operates from leasehold premises. Retirement sale. Offers invited.
LEASEHOLD
Designs, installs and commissions a wide range of electrical services for clients throughout the UK. Utilises the latest technologies to deliver sustainable and BREEAM rated solutions.
LEASEHOLD
Specialises in the fabrication and development of new and existing drainage products. Offers the following products: solid top covers, recessed paviors, recessed trays, headwall and trash screens, grates and ladders.
LEASEHOLD
|
18
|
|
Jun
|
Hull transport business bought out of administration | BUSINESS SALE
Transport operator Clugston Distribution Services has bought...
|
18
|
|
Jun
|
Kingswood Holdings make £4m acquisition and targets extensive pipeline of deals | BUSINESS SALE
UK-based wealth management firm Kingswood Holdings has struc...
|
17
|
|
Jun
|
Four Communications acquires creative agency in ninth BGF-backed takeover | BUSINESS SALE
Marketing services firm Four Communications Group has acquir...
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