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.
Strong financial profile with turnover and gross profit increasing year-on-year.Offers comprehensive suited fire safety solutions including fire door inspections, passive fire surveys, fire extinguisher service and installation, fire risk assessments...
LEASEHOLD
The company is a well-established, tree surgery business. Predominantly serving private sector home owners, the company also provides its services to local councils, golf clubs, parish councils and rental properties.Long-standing client relationships...
RELOCATABLE
Offers a quality-driven service, providing an extensive range of general, educational and specialist cleaning solutions to its extensive client base. A range of complementary services are offered, which include specialist industrial cleaning, washroo...
LEASEHOLD
|
14
|
|
Aug
|
Trafford Centre up for sale after Intu administration | COMMERCIAL PROPERTY
Manchester’s Trafford Centre shopping mall is up for s...
|
13
|
|
Aug
|
Administrators bring three former Shepherd Cox Group hotels to market | DIVISION SALE
Administrators have put three hotels in the North of England...
|
12
|
|
Aug
|
Baird Group to close stores as CVA is approved | BUSINESS NEWS
Retailer and wholesaler Baird Group, the license holder for ...
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