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.
Offers the full scope of plumbing and mechanical services from domestic homes up to large-scale commercial buildings. Packages provided on a labour-only basis to a full supply and installation basis directly to clients or to other larger mechanical c...
LEASEHOLD
Operates several care homes which provide a safe and nurturing environment in which children can grow. Nine homes cater to the needs of children under the age of 18, while the tenth is designed to teach young people the skills required to live indepe...
LEASEHOLD
Established for circa 40 years. Provides a comprehensive range of services for the overall aim of surfacing roads and driveways, including: initial design planning, construction to prepare surfaces for work, drainage, kerbing and laying of asphalt an...
LEASEHOLD
|
09
|
|
Apr
|
Topshop flagship store up for sale | COMMERCIAL PROPERTY
Topshop's flagship Oxford Street store in London is dra...
|
09
|
|
Apr
|
Gestamp’s former Washington warehouse hits the market in £6.5m auction | COMMERCIAL PROPERTY
The former Washington base of international car parts manufa...
|
08
|
|
Apr
|
Decorating contractor targets acquisitions after MBO | MBO/MBI
Scottish commercial decorating contractor Bell Group has com...
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