LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential

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LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
“Tough times ahead for landlords!”

LIVERPOOL RESIDENTIAL UPDATE
             QUARTER 1 2019
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LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
City Residential

City Residential is Liverpool’s award winning, premier residential agent specialising in city
living in Liverpool and across the Northwest. In addition to having one of the largest
residential teams in Liverpool we are also recognised as one of the leading northwest
residential specialists with our consultancy services respected throughout the industry.
Operating from Liverpool’s most prominent and modern showroom we offer a full range of
residential services across the Merseyside and Greater Manchester regions:
           • Sales
           • New Build Sales/advice/consultancy
           • Lettings/Management
           • BTR (Build to Rent) advice/consultancy and management
           • Bulk Deals & Investment Properties
           • Land/Development sales and acquisitions
       For further information contact Alan Bevan on 0151 231 6100 or 07970 498187
                               alan.bevan@cityresidential.co.uk
                                   www.cityresidential.co.uk
LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
Park Central - Liverpool Waters
                         Luxury Apartments for Sale

City Residential are delighted to offer for sale a selection of apartments in the only residential
development at Liverpool Waters currently available for sale. With Phase 1 now sold and
complete this second phase comprises a total of 129 apartments

   ·      Selection of 2 bedroom apartments
   ·      Close to Liverpool Business District and Princes Dock
   ·      Car parking available
   ·      Views across the proposed 16 acre Prospect Park at Central Waters
   ·      For sale from only £205,045

                                   For further information
                                      0151 231 6100
                                    sales@cityresidential.co.uk
LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
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LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
RESIDENTIAL SALES
Prices
    •    HALIFAX – -1.6% decrease over the quarter for the UK as a whole.
    •    NATIONWIDE – -0.1% decrease over quarter for UK as a whole
    •    CITY RES – Slight decrease during the quarter (-0.15%) growth mainly at upper end
         only partially offsetting a larger deficit at the lower end (predominately studio prices)

Market Activity
    •    Market activity remained resilient despite the issues facing the market. Slightly weaker
         activity compared with the same period last year (see note below on Brexit)
    •    Investment market (selling to local investors) remains subdued due to increased tax
         burden (the third reduction in tax relief has now been implemented with the passing of
         the new tax year on April 6th 2019).
    •    Some buyers are making lower offers in the belief that the slowdown in price inflation
         and uncertainly over Brexit etc may allow them to buy at a cheaper level.
    •    Difficulties in progressing sales to completion with some down valuing continuing to
         occur in the city together with delays in leasehold legal issues.

Supply/demand
    •    Increase in supply of investor stock being delivered across the city (predominately at
         the lower/cheaper end of the market) is continuing to have an effect on
         pricing/demand.
    •    Definite and noticeable increase (over the same period last year) in supply of investor
         stock as properties become vacant (seasonal) and some landlords deciding to sell.
    •    City is continuing to attract wealthier investors/buyers who are looking for “better
         quality” schemes/apartments that are in short supply/not being delivered at present.

Tax/legislation/politics/finance
    •    Continued uncertainty over the economy and more particularly Brexit appears to be
         convincing the Bank of England/Monetary Policy Committee to retain rates at 0.75%
         with all members voting to keep the base rate at its current levels for the last five votes.
    •    Somewhat surprisingly Brexit does not appear to have the pronounced negative affect
         on the market that some commentators had suggested it would have done. It appears
         that the type of buyer who is buying in the city centre is doing so irrespective of the
         likely outcome of Brexit although the last few weeks have seen a slight weakening in
         demand as the uncertainty over the Brexit decision continued to dominate the news.
                                                       Sales Prices - Liverpool City Centre (AVERAGES)
                                                    Built                           Price Changes                            Off Plan                             Off Plan (guaranteed yield)
Apartment Type          Sq Ft
                                         Price              £/sq ft             Quarter      Annual                   Average                £/sq ft                Average           £/sq ft
Studio                  275            £62,500               £227               -1.00%        -2.75%                   £65,625                £239                  £67,500            £245
Studio                  325            £70,000               £215               -1.25%        -2.25%                   £73,500                £226                  £75,600            £233
1 bed                   450            £107,250              £238                0.25%        1.75%                   £112,613                £250                 £115,830            £257
1 bed                   525            £122,000              £232                0.00%        1.95%                   £128,100                £244                 £131,760            £251
2 bed                   550            £139,000              £253                0.00%        2.25%                   £145,950                £265                 £150,120            £273
2 bed                   610            £145,500              £239                0.00%        2.75%                   £152,775                £250                 £157,140            £258
2 bed                   685            £168,000              £245                0.00%        2.65%                   £176,400                £258                 £181,440            £265
2 bed 2 bath            775            £191,500              £247                0.00%        2.75%                   £201,075                £259                 £206,820            £267
2 bed 2 bath            875            £221,500              £253                0.00%        2.65%                   £232,575                £266                 £239,220            £273
2 bed penthouse         1000           £244,000              £244                0.00%        2.75%                   £256,200                £256                 £263,520            £264
3 bed 1 bath            850            £210,500              £248                0.25%        2.50%                   £221,025                £260                 £227,340            £267
3 bed 2 bath            975            £236,500              £243                0.00%        2.50%                   £248,325                £255                 £255,420            £262
        AVERAGES                       £172,354              £240               -0.15%            1.63%               £180,347                £252                  £185,143                £260
        The figures detailed above are based upon a sample of apartments (from 10 developments) in the city/docklands and the prices that would be achieved in today’s market conditions.
                 They are not necessarily based on actual achieved prices (but use market evidence) as the sample size could be too low resulting in extreme variations in price. . .
LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
27 Bridgewater Street, Baltic

                        Luxury Townhouses for Sale
City Residential are delighted to offer for sale this stunning and unique development of just
        five townhouses located at the heart of Liverpool’s booming Baltic District.

 ·      Selection of 3 and 4 bedroom townhouses
 ·      Located in the heart of Baltic close to Higson’s Brewery and Baltic Bakehouse,
 ·      Garages included on most units and extra car parking available
 ·      For sale from only £464,950

                                For further information
                                     0151 231 6100
                                sales@cityresidential.co.uk
LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
RESIDENTIAL SCHEMES for SALE
                                                     0151 231 6100
-----------------------------------------------------------------------------------------------------------------
                                               PARK CENTRAL – LIVERPOOL WATERS

                                               No of Apartments/houses: 129 Apartments

                                               Type: 1 and 2 bed apartments

                                               Address: Central Dock, Liverpool Waters, Liverpool

                                               Prices From/To: From £205,045

                                               Showhome/apartment: To be announced shortly

-------------------------------------------------------------------------------------------------------------------
                                               27 BRIDGEWATER STREET - BALTIC

                                               No of Apartments/houses: 5 Houses

                                               Type: 3 and 4 bed townhouses

                                               Address: 27 Bridgewater Street, Baltic, L1 0AR

                                               Prices From/To: From £464,950

                                               Showhome: To be announced shortly
-------------------------------------------------------------------------------------------------------------------

                                               CHANCERY HOUSE
                                               No of Apartments/houses: 37 apartments

                                               Type: 2 and 3 bed apartments – conversion/new build

                                               Address: Paradise Street, Liverpool, L1 3HE

                                               Prices From: £185,000

                                               Showhome/apartment: LAST APARTMENT REMAINING
LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
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LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
Completions

                                            Current average value                                      £148,250
                 L1
                                            Sales       Price Paid                                      Change
          3 months                                4                    £161,625                   £1,268            0.86%
          6 months                               42                    £146,433                  -£1,614            -1.07%
         12 months                               88                    £141,321                   £2,998            2.06%
                                            Current average value                                      £162,559
                 L2
                                            Sales       Price Paid                                      Change
          3 months                                3                    £146,385                   £1,612            1.00%
          6 months                               20                    £158,536                  -£2,110            -1.28%
         12 months                               67                    £165,566                   £2,491            1.56%
                                            Current average value                                      £184,395
                 L3
                                            Sales       Price Paid                                      Change
          3 months                               24                    £147,625                   £1,856            1.02%
          6 months                               88                    £174,082                    -£970            -0.52%
         12 months                              222                    £167,285                   £3,630            2.01%
                                            Current average value                                      £172,077
    CITY CENTRE
                                            Sales       Price Paid                                      Change
          3 months                               31                    £149,311                   £1,579            0.96%
          6 months                              150                    £164,267                  -£1,565            -0.96%
         12 months                              377                    £160,919                   £3,040            1.88%
  The information above is taken from Zoopla sold house prices and whilst is accurately recorded may not actually represent all of the
properties that have been registered during the quarter. The actual figure may be higher/lower than that shown as some sales are not
              always shown on Land Registry. The average pricing achieved may also be affected by low transaction levels
LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
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                            0151 231 6100
RESIDENTIAL DEVELOPMENTS
                   FOR SALE/UNDER CONSTRUCTION

                              Kings Dock Mill Phase 2, Hurst Street, Baltic, L1 8DN
                                   Developer                 Yu Property Group
                             Number of Apartments                    204
                               Apartment Types          1,2 & 3 bed and townhouses
                                  Type of Sale                     Investor
                             New Build/Conversion                 New Build
                                Build Complete                       2019
Comments/Updates   Second phase of Kings Dock Mill scheme adjoining The Hilton in Baltic

                                      The Residence, 8 Water Street, L2 0RD
                                     Developer                     Prospect Capital
                             Number of Apartments                        118
                                 Apartment Types                     1 and 2 bed
                                    Type of Sale                       Investor
                              New Build/Conversion          Conversion (and new build ext)
                                  Build Complete                         2019
Comments/Updates   Conversion of former office building close to Town Hall/Castle St

                                    ART Apartments, Tabley St, Baltic L1 2HB
                                   Developer                     Baltic Cool/LAGP
                              Number of Apartments                       55
                                Apartment Types                    1 and 2 bed
                                  Type of Sale                          TBC
                              New Build/Conversion                   New Build
                                  Build Complete                       2019
Comments/Updates   11 Storey scheme on vacant land adjoining Kings Dock Mill phase 2.

                                Ropemaker Place, 89-99 Renshaw Street, L1 2SP
                                     Developer              Legacie Developments
                              Number of Apartments                     74
                                 Apartment Types              Studio, 1 and 2 bed
                                    Type of Sale                    Investor
                               New Build/Conversion                New Build
                                  Build Complete                 Summer 2019
Comments/Updates   Adjacent to Unite student scheme and opposite St Luke’s Church.
FOR SALE/UNDER CONSTRUCTION

                                       60 Old Hall Street. Liverpool, L3 9PP
                                   Developer                      Signature Living
                              Number of Apartments                      115
                                Apartment Types                     1 and 2 bed
                                  Type of Sale                        Investor
                              New Build/Conversion                  Conversion
                                  Build Complete           Part complete/Summer 2019
Comments/Updates   Refurbishment of the “ugly duckling” into residential scheme

                                        Princes Suites, Dale Street, L2 2HT
                                   Developer                     Goodman Wells
                              Number of Apartments                       35
                                Apartment Types                 Studio, 1 and 2 bed
                                  Type of Sale                       Investor
                              New Build/Conversion                  Conversion
                                  Build Complete            Part complete/await news?
Comments/Updates   Refurbishment of former Princes Building on Dale Street.

                                 27 Bridgewater Street, Baltic, Liverpool, L1 0AR
                                   Developer            Hughes & Jones (Baltic) Ltd
                               Number of Houses                       5
                                  House Types                3 and 4 bed houses
                                  Type of Sale            Owner occupier/Investor
                             New Build/Conversion                New Build
                                 Build Complete                 Summer 2019
Comments/Updates   Unique development of new townhouses in the heart of Baltic Triangle

                                    Wolstenholme Square, Ropewalks, L1 4JJ
                                   Developer                    Elliot Group
                            Number of Apartments                     447
                               Apartment Types               Studio and 1 bed
                                  Type of Sale                    Investor
                             New Build/Conversion                New Build
                                Build Complete               Final phase 2019
Comments/Updates   Redevelopment of former home of Cream and Kazimier clubs site.
FOR SALE/UNDER CONSTRUCTION

                                      Silkhouse Court, Tithebarn St, L2 2QW
                                     Developer                   Fortis/Signature
                             Number of Apartments                       193
                                 Apartment Types              Studio, 1, 2 and 3 bed
                                    Type of Sale                     Investor
                              New Build/Conversion                 Conversion
                                  Build Complete                  Summer 2019
Comments/Updates   Conversion of former Silkhouse Court with views from upper floors.

                                  Stanley Dock, Regent Road, Liverpool, L3 0AN
                                   Developer             Harcourt Developments
                            Number of Apartments                   538
                               Apartment Types             Studio, 1 and 2 bed
                                  Type of Sale                     TBC
                             New Build/Conversion              Conversion
                                Build Complete               2019 onwards
Comments/Updates   Redevelopment of former Tobacco Warehouse at Stanley Dock.

                                Strand Plaza/Mersey House, The Strand, L2 7PX
                                     Developer                     Primesite
                             Number of Apartments                     122
                                 Apartment Types                1, 2 and 3 bed
                                    Type of Sale                    Investor
                              New Build/Conversion               Conversion
                                  Build Complete             Part complete/2019
Comments/Updates   Conversion of former Mersey House overlooking The Strand/3 Graces.

                                  The Eight Building, Glenville St, Baltic, L1 5JR
                                     Developer                         Iliad
                              Number of Apartments                     120
                                  Apartment Types                1, 2 and 3 bed
                                    Type of Sale                      TBC
                               New Build/Conversion                New Build
                                   Build Complete                     2020
Comments/Updates   Follow up residential scheme to student scheme already built.
FOR SALE/UNDER CONSTRUCTION

                                           Aura, Low Hill, Liverpool L6 1AU
                                      Developer                      Elliot Group
                               Number of Apartments             142 (residential units)
                                   Apartment Types               Studio, 1 and 2 bed
                                     Type of Sale                      Investor
                                New Build/Conversion                  New Build
                                    Build Complete                       2020
Comments/Updates   Part of large student scheme on site of former Erskine Industrial Estate

                                Baltic House, Norfolk Street, Baltic Triangle, L1 0BL
                                   Developer                Crossfield Exclusive Dev Ltd
                              Number of Apartments                       126
                                Apartment Types                    1, 2 and 3 bed
                                  Type of Sale                         Investor
                              New Build/Conversion           New Build/restart scheme
                                  Build Complete                      2020/TBC
Comments/Updates   Stalled scheme bought by Crossfield Exclusive and back on site.

                               Quay Central (Phase 1) Waterloo Rd, Liverpool Waters
                                   Developer                       Romal Capital
                              Number of Apartments                      237
                                Apartment Types                     1 and 2 bed
                                  Type of Sale                        Investor
                              New Build/Conversion                   New Build
                                  Build Complete                   Just completed
Comments/Updates   First residential development onsite in Liverpool Waters scheme

                                Azure/Rose Place, off St Anne St, Liverpool, L3 3BN
                                   Developer              Legacie Developments
                            Number of Apartments                     127
                               Apartment Types               Studio 1 and 2 bed
                                 Type of Sale                      Investor
                            New Build/Conversion                  New Build
                                Build Complete                       TBC
Comments/Updates   New scheme close to Phoenix Place/Fox Halls student developments
FOR SALE/UNDER CONSTRUCTION

                                     Chavasse Building, Lydia Ann St, L1 2HB
                                    Developer                    Livingbrick Ltd
                             Number of Apartments                       55
                                Apartment Types                Studio and 1 Bed
                                   Type of Sale                      Investor
                             New Build/Conversion                  New Build
                                 Build Complete                   Spring 2019
Comments/Updates   Small scheme in Ropewalks close to Circle 109 development

                                 Parliament Residences (Phase 2), Baltic, L1 0AJ
                                    Developer               AC Parl St 2 (Assetcorp)
                               Number of Apartments                     145
                                 Apartment Types                  1, 2 and 3 bed
                                   Type of Sale                        TBC
                               New Build/Conversion                 New Build
                                  Build Complete                  Summer 2019
Comments/Updates   Residential scheme completing the block of residential in this location

                               FABRIC DISTRICT Residences, Liverpool, L3 8HA
                                    Developer                            YPG
                                 No of Apartments                        208
                                 Apartment Types                  Studio apartments
                                   Type of Sale                        Investor
                               New Build/Conversion                   New Build
                                  Build Complete                         2020
Comments/Updates   Located on Devon Street and spread over 9 floors

                                          The Address, Ropewalks, L1 4JJ
                                   Developer                         Elliot Group
                              Number of Apartments                        200
                                Apartment Types                  Studio 1 and 2 beds
                                  Type of Sale                         Investor
                              New Build/Conversion                    New Build
                                  Build Complete                         2020
Comments/Updates   Final piece of the Wolstenholme Square residential development
FOR SALE/UNDER CONSTRUCTION

                                 Infinity, Lanyork Rd/Leeds Street, Liverpool, L3 6JB
                                      Developer                    Elliot Group
                               Number of Apartments                    1015
                                 Apartment Types             Studio, 1, 2 and 3 bed
                                   Type of Sale             Investor/owner occupier
                               New Build/Conversion                 New Build
                                  Build Complete                        TBC
Comments/Updates   Striking and ambitious new scheme with anticipated £250million GDV.

                               Park Central (Phase 2), Waterloo Rd, Liverpool Waters
                                    Developer                   Romal Capital
                            Number of Apartments                     129
                                Apartment Types                  1 and 2 bed
                                   Type of Sale           Investor/Owner Occupiers
                            New Build/Conversion                  New Build
                                 Build Complete                 Autumn 2020
                    nd
Comments/Updates   2 Phase of this groundbreaking Liverpool Waters scheme

                   RESIDENTIAL DEVELOPMENTS
                      POTENTIAL/FUTURE SCHEMES

                                     Heaps Mill,1 Park Lane, Liverpool, L1 5EX
                                      Developer                  To be announced
                               Number of Apartments                     800
                                  Apartment Types             Studio, 1, 2 and 3 bed
                                    Type of Sale                       TBC
                               New Build/Conversion          New Build & Conversion
                                   Build Complete                      TBC
Comments/Updates   Will probably be a mixed residential scheme including BTR blocks

                                  The Tannery, Gardeners Row, Liverpool, L3 6JH
                                       Developer                 Niveda Realty/Vinco
                                Number of Apartments                     381
                                   Apartment Types               Studio, 1 and 2 bed
                                      Type of Sale                     Investor
                                New Build/Conversion                  New Build
                                    Build Complete                       TBC
Comments/Updates   Trio of buildings comprising 7, 9 and 15 storey towers.
POTENTIAL/FUTURE SCHEMES

                                     Brewery Village (Cains), Baltic, L8 5XJ
                                     Developer              Cains Brewery Village
                             Number of Apartments                  1400/1500
                                 Apartment Types            Studio, 1, 2 and 3 bed
                                    Type of Sale               PRS or investors
                             New Build/Conversion         Predominately new build
                                  Build Complete                     TBC
Comments/Updates   £150/£200 million mixed use redevelopment of former Cain’s Brewery.

                                        Hughes House, Liverpool, L3 8JE
                                   Developer              Town Square Developments
                              Number of Apartments                   252
                                Apartment Types              Studio, 1 and 2 bed
                                  Type of Sale                  TBC/Investor
                              New Build/Conversion               New Build
                                 Build Complete                      TBC
Comments/Updates   Proposals to demolish the TJ Hughes store and new build replacement

                             VIA VERDE, Leeds St/Vauxhall, Pumpfields, L3 6BA
                                    Developer             Mees Demolition/Eldonian
                             Number of Apartments                     1308
                                Apartment Types              Studio, 1, 2 and 3 bed
                                  Type of Sale                  Investor or PRS
                              New Build/Conversion                 New Build
                                 Build Complete                       TBC
Comments/Updates   Large mixed-use scheme with 55,000 sq ft commercial space.

                               Fabric Residence, Fabric District, Liverpool, L3 8HA
                                   Developer                          YPG
                                  No of Rooms                         449
                                Apartment Types               Studio, 1 and 2 bed
                                  Type of Sale                     Investor
                              New Build/Conversion                New Build
                                 Build Complete                      TBC
Comments/Updates   Previously consented student scheme now proposed residential
POTENTIAL/FUTURE SCHEMES

                                           Eclipse, Baltic Triangle, L1 5HA
                                    Developer                  Citipads/Ridgemere
                             Number of Apartments                      217
                                 Apartment Types               Studio, 1 and 2 bed
                                   Type of Sale                      Investor
                              New Build/Conversion                  New Build
                                  Build Complete                       TBC
Comments/Updates   Redesign of a previously consented residential scheme in Baltic

                                      Former Bogans, Baltic Triangle, L1 5HA
                                     Developer                   Miami Ltd/Iliad
                              Number of Apartments                     156
                                 Apartment Types              Studio, 1 and 2 bed
                                    Type of Sale                       TBC
                               New Build/Conversion                 New Build
                                  Build Complete                       TBC
Comments/Updates   New Baltic residential scheme with 4 commercial units to ground floor.

                                 One Baltic Square Grafton St, Liverpool, L8 4QX
                                     Developer                           YPG
                              Number of Apartments                       301
                                 Apartment Types                     1 and 2 bed
                                    Type of Sale                       Investor
                              New Build/Conversion                    New Build
                                  Build Complete                         TBC
Comments/Updates   Adjoining Cains Brewery site ranging in height from 4 to 9 storeys.

                                         St Anne Street, Liverpool, L3 3DY
                                   Developer                         Citipads
                             Number of Apartments                      319
                               Apartment Types                  1, 2 and 3 bed
                                  Type of Sale                       Investor
                             New Build/Conversion                   New Build
                                Build Complete                         TBC
Comments/Updates   Large scheme adjacent to ongoing Fox Street Village development.
POTENTIAL/FUTURE SCHEMES

                                       Queens Dock, Chaloner Street, L3 4BE
                                   Developer                         TBC
                              Number of Apartments                   192
                                Apartment Types              Studio, 1 and 2 bed
                                  Type of Sale                 PRS or Investor
                              New Build/Conversion                New Build
                                 Build Complete                      TBC
Comments/Updates   Overlooking Queens Dock adjacent to Leo’s Casino. Site for sale

                                          Ovatus 1, Old Hall Street/Leeds St
                                    Developer               Prospect Capital/Wilcocks
                              Number of Apartments                168 (phase 1)
                                Apartment Types               Studio, 1, 2 and 3 bed
                                   Type of Sale                      Investor
                              New Build/Conversion                  New Build
                                 Build Complete                        TBC
Comments/Updates   Phase 1 of double tower scheme at junction of Old Hall St/Leeds St

                                          Ovatus 2, Old Hall Street/Leeds St
                                      Developer                Prospect Capital/Wilcocks
                               Number of Apartments                  530 (phase 2)
                                  Apartment Types                Studio, 1, 2 and 3 bed
                                     Type of Sale                       Investor
                               New Build/Conversion                    New Build
                                   Build Complete                         TBC
Comments/Updates   Will be Liverpool’s tallest scheme at 48 storeys high when built

                                    Great Homer St/Virgil St, Liverpool L5 5BY
                                      Developer                  The Soller Group
                              Number of Apartments                       277
                                 Apartment Types                Studio, 1 and 2 bed
                                     Type of Sale                      Investor
                              New Build/Conversion                   New Build
                                  Build Complete                         TBC
Comments/Updates   Large residential scheme close to Project Jennifer regeneration
POTENTIAL/FUTURE SCHEMES

                                  Freemasons Row, Leeds St, Liverpool, L3 2DJ
                                   Developer                           Vinco
                              Number of Apartments                      656
                                Apartment Types            Studio, 1,2 3 bed apartments
                                  Type of Sale                        Investor
                              New Build/Conversion                   New Build
                                  Build Complete              TBC/Unlikely to happen
Comments/Updates   Large residential scheme in Pumpfields fronting onto Leeds Street.

                                    Norfolk House PH 3/EPIC, Baltic, L1 0AR
                                      Developer              Elliot Group/EPIC Hotel
                              Number of Apartments        306 bed hotel and apartments
                                  Apartment Types             Hotel and apartments
                                     Type of Sale                     Investor
                              New Build/Conversion                   New Build
                                   Build Complete                       TBC
Comments/Updates   Final phase of a three phased scheme in the heart of Baltic Triangle.

                                        Norton’s, Flint Street, Baltic, L1 0DH
                                   Developer                          Citipads
                              Number of Apartments                       650
                                Apartment Types                    1, 2 and 3 bed
                                  Type of Sale                          TBC
                              New Build/Conversion                   New Build
                                  Build Complete                        TBC
Comments/Updates   Large prominent site being brought forward on corner of Baltic Triangle

                                       35 Bridgewater Street, Baltic, L1 0AJ
                                     Developer                       Eloquent Global
                              Number of Apartments                          43
                                 Apartment Types               1, 2 and 3 bed apartments
                                    Type of Sale                       Private Sale
                              New Build/Conversion              Conversion & New Build
                                  Build Complete                        2020/TBC
Comments/Updates   Nice conversion in heart of Baltic Triangle opposite Higson’s Brewery
POTENTIAL/FUTURE SCHEMES

                                        Brunswick Way, Docklands, L3 4BL
                                   Developer                        NWIA
                              Number of Apartments                   240
                                Apartment Types                 1 and 2 bed
                                  Type of Sale                      TBC
                              New Build/Conversion                New Build
                                 Build Complete                   2021/TBC
Comments/Updates   Stunning new docklands scheme in Liverpool Marina. Site for sale

                                    Baltic Place, Brassey St, Liverpool, L8 5XP
                                     Developer                    Eloquent Global
                             Number of Apartments                       246
                                Apartment Types                     1 and 2 bed
                                    Type of Sale                      Investor
                              New Build/Conversion                   New Build
                                  Build Complete                     2020/TBC
Comments/Updates   On the edge of the expanding Baltic Triangle close to Cain’s Brewery

                                    Riverside, Sefton Street, Liverpool, L8 6UD
                                   Developer                       Eloquent Global
                              Number of Apartments                       198
                                Apartment Types                      1 and 2 bed
                                  Type of Sale                         Investor
                              New Build/Conversion                    New Build
                                  Build Complete                      2020/TBC
Comments/Updates   Replacing a former car garage with rear of site fronting Caryl Street

                                      Bevington Bush Scotland Road L3 6JH
                                    Developer        Bevington Developments Ltd
                                 No of Apartments                 614
                                 Apartment Types        Studio, 1, 2 and 3 bed
                                   Type of Sale              Investor/BTR
                              New Build/Conversion             New Build
                                  Build Complete                 TBC
Comments/Updates   Formerly a proposed STUDENT scheme now with residential planning
POTENTIAL/FUTURE SCHEMES

                                       The Metalworks, Pumpfields, L3 6DL
                                   Developer                Pumpfields Regeneration Co
                              Number of Apartments                     312
                                Apartment Types                Studio, 1 and 2 bed
                                  Type of Sale                     Investor Sale
                              New Build/Conversion                   New Build
                                  Build Complete                        TBC
Comments/Updates   Large residential scheme comprising 11 storey and 13 storey blocks.

                                   VAUXHALL, Oriel St/Paul St, Liverpool, L3 6DU
                                    Developer                   Smith Young
                                No of Apartments                    447
                                Apartment Types            Studios, 1 and 2 bed
                                   Type of Sale                     TBC
                              New Build/Conversion               New Build
                                 Build Complete                     TBC
Comments/Updates   Large mixed use scheme proposed for Vauxhall/Pumpfields area

                                           Clegg Street, Liverpool, L5 3LU
                                     Developer                           Caro
                                 No of Apartments                         97
                                 Apartment Types                       Investor
                                    Type of Sale                         TBC
                              New Build/Conversion                   New Build
                                  Build Complete                         TBC
Comments/Updates   Adjoining Caro’s City Point student scheme just off St Anne’s Street

                               Parliament Square, Great George St, Liverpool, L1 0BS
                                     Developer                      Legacie
                                 No of Apartments                     505
                                 Apartment Types           Studios, 1, 2 and 3 bed
                                    Type of Sale                     TBC
                              New Build/Conversion                New Build
                                  Build Complete                     TBC
Comments/Updates   Large 12/18 storey mixed use scheme on corner of Baltic Triangle
POTENTIAL/FUTURE SCHEMES

                                             St James St, Baltic, L2 2HT
                                   Developer                      LPS Real Estate
                              Number of Apartments                       44
                                Apartment Types                    1, 2 and 3 bed
                                  Type of Sale                      Investor/TBC
                              New Build/Conversion                    New Build
                                  Build Complete                        TBC
Comments/Updates   New building (inc new build pub) on former Liver Works site in Baltic

                                      Plot C02 Central Docks, Liverpool Waters
                                     Developer                    Romal Capital
                             Number of Apartments                      646
                                 Apartment Types                   1 and 2 bed
                                    Type of Sale            Investor/Owner Occupiers
                              New Build/Conversion                  New Build
                                  Build Complete                      TBC
Comments/Updates   Next phase of this groundbreaking Liverpool Waters scheme

                                      Aspire, Waterloo Road/Paisley St, L3 7BA
                                    Developer                   Living Brick Ltd
                              Number of Apartments                     TBC
                                 Apartment Types                 1, 2 and 3 bed
                                   Type of Sale                      Investor
                              New Build/Conversion                 New Build
                                  Build Complete                       TBC
Comments/Updates   16 Storey development close to Liverpool Waters/new link road
ADVERTISEMENT
STALLED/NOT PROGRESSING

                                   Herculaneum Quay, Riverside Drive, L3 4ED
                                   Developer                  Primesite Developments
                              Number of Apartments                      123
                                Apartment Types                  1,2 and 3 bedroom
                                  Type of Sale                Predominately Investor
                              New Build/Conversion                   New Build
                                  Build Complete          In ADMINISTRATION await news
Comments/Updates   Striking scheme in south Liverpool docks with views across the river

                                   North Point, 70-90 Pall Mall, Liverpool, L3 6AE
                                   Developer                North Point Global
                              Number of Apartments         366 (507 proposed)
                                Apartment Types        Studio, 1,2 and 3 bedroom
                                  Type of Sale                   Investor
                              New Build/Conversion              New Build
                                 Build Complete                 STALLED
Comments/Updates   Site purchased by ELLIOT Group expect progress soon

                                   New Chinatown, Great George Street, L1 7AG
                                   Developer             Great George St Developments
                             Number of Apartments          117 (phase 1) 503 (P2 & P3)
                                Apartment Types             Studio, 1,2 and 3 bedroom
                                  Type of Sale                        Investor
                             New Build/Conversion                   New Build
                                 Build Complete                     STALLED
Comments/Updates   New proposals announced to kick start this former stalled site

                                  Victoria House, James Street, Liverpool, L1 6BD
                                    Developer                AR & V Investments
                              Number of Apartments                    63
                                 Apartment Types              Studios and 1 beds
                                   Type of Sale                    Investor
                              New Build/Conversion               Conversion
                                  Build Complete                  STALLED
Comments/Updates   Site purchased progress soon/new proposals submitted for planning
ALEXANDRA TOWER
                            Princes Dock, Liverpool, L3 1BF

Alexandra Tower is one of Liverpool’s most iconic residential buildings literally “perched” on
the River Mersey at Princes Dock. The apartments in the scheme benefit from stunning
views, either across the river towards the Welsh Hills or back towards the famous Liverpool
City skyline.

Having been improved by the previous owner to include refurbished entrance/concierge,
upgraded communal areas and the reinstatement of car parking Alexandra Tower now offers
some of the best apartments in the city.

       TO LET (all prices are from) - 1 beds £700, 2 beds £900, 3 beds £1200
                   Unfurnished and furnished apartments available

                    FOR SALE (all prices are from) 2 beds £179,950

                                   0151 231 6100
RESIDENTIAL LETTINGS

Prices
    •     Rents fairly static during the quarter with some strength in the middle/upper end of the
          market being offset by some slight reductions elsewhere.
    •     Most landlords happy to see continuity of tenancy/small increase on renewal rather
          than trying to substantially raise rents.

Market Activity
    •     Market reasonably active during the quarter but slightly below last year activity levels.
    •     Continued strong interest in larger/more expensive properties.
    •     The success of lettings at the recently completed Chancery House, Orleans House and
          Hadwens Apartments together with the ongoing performance of the BTR schemes at
          The Cargo Building/The Keel once again confirms the growing demand for quality
          accommodation, potentially at the expense of some of the older more “tired” existing
          schemes.

Supply/demand
    •     The completion of several new schemes with more affordable stock increased supply
          with a definite and noticeable effect on supply/demand
    •     City is continuing to attract wealthier tenants who are looking for “better quality
          schemes/apartments” that are in short supply/not being delivered at present.
    •     The slowing pipeline and likelihood that a substantial portion of this pipeline will not get
          built may well lessen the pressure on rents that would occur if this pipeline was
          delivered.

Tax/legislation/politics/finance
    •     Due to increasingly onerous tax/legislative changes (increased stamp duty and loss of
          tax relief) landlords being more particular and are less willing to pay asking prices and
          offering below market value
    •     The “tightening” of required rental interest cover by mortgage lenders is having an
          impact especially those landlords with high levels of gearing although the continued
          availability of extremely low 2, 3, 5 and 10 year fixed rates continues to offset this.
    •     The implementation of the fee ban has now been announced as 1st June 2019.
    •     Recent announcement of the potential banning of Section 21 notices may well lead to
          longer, open ended tenancies something the government appears very keen to
          introduce

                                                     Market Rents - Liverpool City Centre (AVERAGES)
                                           City Centre (L1 & L2)                                Docklands (L3)                      Price Changes                 PRS/BTR (projected)
Apartment Type           Sq Ft
                                       Rent £/sq ft pcm £/sq ft pa                     Rent      £/sq ft pcm £/sq ft pa            Quarter Annual             Rent £/sq ft pcm £/sq ft pa
Studio                   275           £495       £1.80       £21.60                   £495         £1.80      £21.60               0.00% 0.00%               £600      £2.18      £26.18
Studio                   325           £540       £1.66       £19.94                   £540         £1.66      £19.94               0.00% 0.00%               £650      £2.00      £24.00
1 bed                    450           £600       £1.33       £16.00                   £600         £1.33      £16.00               0.00% 2.00%               £700      £1.56      £18.67
1 bed                    525           £640       £1.22       £14.63                   £650         £1.24      £14.86               0.00% 2.00%               £725      £1.38      £16.57
2 bed                    550           £710       £1.29       £15.49                   £710         £1.29      £15.49               0.00% 2.00%               £900      £1.64      £19.64
2 bed                    610           £765       £1.25       £15.05                   £770         £1.26      £15.15               0.00% 2.20%               £935      £1.53      £18.39
2 bed                    685           £790       £1.15       £13.84                   £800         £1.17      £14.01               0.00% 2.75%               £965      £1.41      £16.91
2 bed 2 bath             775           £830       £1.07       £12.85                   £840         £1.08      £13.01               0.00% 2.75%              £1,000     £1.29      £15.48
2 bed 2 bath             875           £930       £1.06       £12.75                   £945         £1.08      £12.96               0.00% 2.75%              £1,050     £1.20      £14.40
2 bed penthouse          1000         £1,040      £1.04       £12.48                  £1,075        £1.08      £12.90              0.00% 2.85%               £1,150     £1.15      £13.80
3 bed 1 bath             850          £1,130      £1.33       £15.95                  £1,165        £1.37      £16.45               0.00% 2.85%              £1,300     £1.53      £18.35
3 bed 2 bath             975          £1,250      £1.28       £15.38                  £1,275        £1.31      £15.69               0.00% 2.85%              £1,400     £1.44      £17.23
        AVERAGES                       £810          £1.29          £15.50             £822           £1.31         £15.67         0.00%       2.08%           £948          £1.53          £18.30
        The figures detailed above are based upon a sample of apartments (from 10 developments) in the city/docklands and the prices that would be achieved in today’s market conditions.
                They are not necessarily based on actual achieved prices (but use market evidence) as the sample size could be too low resulting in extreme variations in price. . .
RESIDENTIAL SCHEMES to LET
----------------------------------------------------------------------------------------------------------------------------
                                                                 ALEXANDRA TOWER
                                               No of Apartments:70
                                               Type:1, 2 and 3 Bed
                                               Address: Princes Dock, Liverpool, L3 1BD
                                               Prices From:
                                               1 bed: £700
                                               2 bed: £900
                                               3 bed: £1,200
                                               Furnished/Unfurnished: Selection of both
                                               Car Parking: Yes

----------------------------------------------------------------------------------------------------------------------------
                                                         SHAFTESBURY APARTMENTS
                                               No of Apartments:39
                                               Type:1 and 2 Bed
                                               Address: Mount Pleasant, Liverpool, L3 5SA

                                               Prices From:
                                               1 bed: £650
                                               2 bed: £800

                                               Furnished/Unfurnished: Furnished
                                               Car Parking: No

----------------------------------------------------------------------------------------------------------------------------
                                                                   2 MOORFIELDS
                                               No of Apartments: 68
                                               Type: Range of studio apartments
                                               Address: 2 Moorfields, Liverpool, L2 2BS

                                               Prices From/To:
                                               Studios £575-£650 all inclusive rents

                                               Furnished/Unfurnished: Furnished
                                               Car Parking: No

----------------------------------------------------------------------------------------------------------------------------
                                                             HADWENS APARTMENTS
                                               No of Apartments: 8
                                               Type: 1 and 2 bed
                                               Address: Tithebarn St, Liverpool L2 2SB
                                               Prices From/To:
                                               1 bed: ALL LET
                                               2 bed: £950
                                               Furnished/Unfurnished: Furnished
                                               Car Parking: No

----------------------------------------------------------------------------------------------------------------------------
                                               0151 231 6100
BUILD TO RENT (BTR)
During the last quarter we have seen the following announcements which continue to
highlight Liverpool as being one of the more active BTR cities outside of London.

  •   Brickland/Heitman deal – After the announcement in September 2018 that Liverpool
      based developer Brickland had concluded a deal with global investor Heitman to
      develop build-to-rent sites in Manchester and Liverpool, the appointed contractor ISG
      is now on site with rapid progress having been made.
  •   Construction now well underway on The Lexington (Moda/BCEGI) and Strand House
      (Panacea/Invesco/Graham’s).
  •   Construction on Plaza 1821 (Peel/Regenda/Forest) has restarted after the
      administration of Forrest with Vermont now taking over construction.
  •   We await news on the proposed third Princes Dock tower “The Hive” by Your Housing.

                                            BUILT

                                         Cargo Building, Baltic Triangle, L1 8JH
                                         Developer               Promenade Estates Ltd
                                  Number of Apartments                     324
                                            Fund                      Hermes/Vista
                                     Apartment Types                 1, 2 and 3 bed
                                   New Build/Conversion                New Build
                                      Build Complete                NOW LETTING
Comments/Updates      £50 million forward funded deal overlooking The Strand/Docks

                                 UNDER CONSTRUCTION

                                   Plaza 1821, Princes Dock, Liverpool Waters, L3 1DZ
                                        Developer                         Peel
                                  Number of Apartments                    105
                                           Fund                        Regenda
                                     Apartment Types                  1 and 2 bed
                                  New Build/Conversion                 New Build
                                      Build Complete                  Spring 2020
Comments/Updates      £21 million scheme being built by Peel for Regenda/Redwing

                                      Strand House, 21 Strand St, Liverpool, L2 0PP
                                        Developer                  Panacea Property
                                 Number of Apartments                     391
                                           Fund                         Invesco
                                    Apartment Types                  1, 2 and 3 bed
                                  New Build/Conversion                 New Build
                                     Build Complete                  Autumn 2020
Comments/Updates      Located fronting The Strand with views across Albert Dock/Mann Island
ADVERTISEMENT
UNDER CONSTRUCTION

                             The Lexington, Princes Dock, Liverpool Waters, L3 1DZ
                                    Developer                    Moda Living
                             Number of Apartments                    304
                                      Fund                         Apache
                                Apartment Types             Studio, 1, 2 and 3 bed
                              New Build/Conversion                New Build
                                  Build Complete                     2021
Comments/Updates   34 storey £82 million GDV scheme in Princes Dock/Liverpool Waters

                                          Blundell Street, Baltic, L1 0AJ
                                     Developer                Brickland/Heitman
                             Number of Apartments                     200
                                Apartment Types                 1, 2 and 3 bed
                                       Fund                        Heitman
                             New Build/Conversion                 New Build
                                  Build Complete                     TBC
Comments/Updates   Large new Baltic scheme including commercial & 116 car park spaces.

                                 PROPOSED

                              The Keel (PHASE 2), Queens Dock, Liverpool, L3 4GE
                                   Developer                       Glenbrook
                            Number of Apartments                       257
                                     Fund                     Barings Real Estate
                               Apartment Types                   1, 2 and 3 bed
                            New Build/Conversion                   New Build
                                Build Complete                        TBC
                    nd
Comments/Updates   2 phase of The Keel with two buildings overlooking Queens Dock

                                          Aspire, 30-36 Pall Mall, L3 6AE
                                     Developer               Anwyl Construction
                              Number of Apartments                   336
                                       Fund                          TBC
                                 Apartment Types            Studio, 1, 2 and 3 bed
                              New Build/Conversion                New Build
                                  Build Complete                     2020
Comments/Updates   Stunning 22 storey scheme opposite proposed Pall Mall Exchange
The Hive Princes Dock, Liverpool Waters, L3 1DZ
                                     Developer                  Your Housing
                             Number of Apartments                    276
                                       Fund                      Self funded
                                Apartment Types                1, 2 and 3 bed
                             New Build/Conversion                New Build
                                 Build Complete                     2020
Comments/Updates   Proposed £48 million scheme designed by Brock Carmichael
POPULATION
                      Residential
                        CITY CENTRE CORE
   Number of built PROPERTIES (city centre core)         14,459
      Number of OWNER OCCUPIED properties                 4,183
           Number of TENANTED properties                  8,794
            Number of VACANT Properties                   1,114
                     VACANCY Rate                          7%
Number STUDENTS (living in non PURPOSE BUILT units)       3,634
 Number STUDENTS (living in PURPOSE BUILT units)         19,474
Number of Units let to SERVICED APARTMENT operators        368
        Total Number of City Centre Residents            44,996

                                                   Expanded City
                                                   Centre Core

                                                            Expanded City
                                                            Centre Core
                             City Centre Core

                                                Expanded City
                                                Centre Core

                       EXPANDED CITY CORE
          Number of Properties Built (all areas)            17,492
       Number of OWNER OCCUPIED Properties                  5,565
            Number of TENANTED Properties                   10,295
             Number of VACANT Properties                    1,264
                      VACANCY Rate                           7%
Number of STUDENTS (living in non PURPOSE BUILT units)      4,396
  Number of STUDENTS (living in PURPOSE BUILT units)        22,278
 Number of Units let to SERVICED APARTMENT operators         368
         Total Number of City Centre Residents              51,980
Student

                                     STUDENT POPULATION 2016/2017
                                            Post Grad Under Grad Full Time                           Part Time     Total
       The University of Liverpool            6,135     20,940    23,870                               3,200      27,070
    Liverpool John Moores University          4,115     18,325    19,350                               3,095      22,445
        Liverpool Hope University             1,280      3,965     4,580                                660        5,240
The Liverpool Institute for Performing Arts     0         745       745                                  0          745
  Liverpool School of Tropical Medicine        435         0        120                                 310         430
            TOTAL STUDENTS                    11,965    43,975    48,665                               7,265      55,930

                                                  STUDENT POPULATION 2011/2017
            UNIVERSITY/YEAR                   2011-12    2012-13   2013-14       2014-15   2015-16     2016-17   Movement %
       The University of Liverpool             20,590     20,875    21,345        22,715    24,775      27,070     9.26%
    Liverpool John Moores University           25,855     22,585    21,315        20,635    21,880      22,445     2.58%
        Liverpool Hope University              7,400       6,540     6,240         5,550     4,940       5,240     6.07%
The Liverpool Institute for Performing Arts     720         730       720           715       720         745      3.47%
  Liverpool School of Tropical Medicine                                                       425         430      1.18%
            TOTAL STUDENTS                    54,565     50,730     49,620       49,615     52,740      55,930     6.05%

           •      Another decent increase in undergraduate students from all universities has helped
                the overall student numbers increase over 6% year on year.
           •      LSTM numbers now shown separately from UoL figures.

       Student Market – Development/Planning Updates
           •      MCR Property group are now back on site with the previously stalled Pinnacle
                scheme “The Quadrant” located on Shaw Street
           •     The stalled Baltic House student scheme in Baltic has now been bought by Crossfield
                Exclusive Developments Ltd who are now on site with their newly proposed scheme
           •     Former Copperas Hill Police Station that was brought to the market by Eddisons has
                been agreed to be bought by Carpenter Investments
           •     Far East Orchard a Singapore based company purchased the 323 bed Glassworks
                development in Liverpool as part of a three development investment deal
           •     Mount Property Group announced that they had agreed a forward funding investment
                deal on their Innovo House scheme in Devon Street, Fabric Quarter with Singapore
                based Soilbuild Group
           •     New planning application approved for Niveda’s proposed Renshaw Hall
                development which will now include 404 student beds together with a new Marriot
                Moxy hotel
STUDENT SCHEMES to LET
                                                  0151 231 6100
---------------------------------------------------------------------------------------------------------------------------

                                                  SHAFTESBURY APARTMENTS
                                                  No of Apartments/Rooms: 39 Apartments

                                                  Type: 1 and 2 bed apartments

                                                  Address: Mount Pleasant, Liverpool, L3 5SA

                                                  Bills included: No

                                                   Rents from: £650 per month (18/19)
----------------------------------------------------------------------------------------------------------------------------

                                                   2 MOORFIELDS
                                                   No of Apartments/Rooms: 68 studios

                                                   Type: Self contained studios across three floors

                                                   Address: 2 Moorfields, Liverpool, L2 2BS

                                                   Bills included: Yes

                                                   Rents from: £575-£650 per month all inclusive rents

---------------------------------------------------------------------------------------------------------------------------
STUDENT DEVELOPMENTS
                   UNDER CONSTRUCTION/PROGRESSING

                                 KAPLAN, Paddington Village, Knowledge Quarter, L7
                                    Developer                       Kaplan/LIC
                                   No of Rooms                         259
                                Studios or Cluster                    Studio
                                   Type of Sale                      Self fund
                               New Build/Conversion                 New Build
                                   Build Complete                    Sep 2019
Comments/Updates    £35million development in the emerging Paddington Village/KQ district

                                Horizon Heights, Skelhorne St, Liverpool, L3 5LX
                                      Developer                        Unite
                                    No of Rooms                        1085
                                  Studios or Cluster           Predominately cluster
                                     Type of Sale                    Self fund
                                New Build/Conversion                New Build
                                   Build Complete                   Sep 2019
Comments/Updates    £70 million scheme adjoining Grand Central student scheme (Unite)

                                  One Islington Plaza Islington, Liverpool, L3 8HA
                                   Developer                 New Regen/RW Invest
                                  No of Rooms                          317
                               Studios or Cluster             Mixed student/cluster
                                  Type of Sale                       Investor
                             New Build/Conversion                  New Build
                                 Build Complete                    May 2019
Comments/Updates    New scheme proposed on site originally owned by Islington Regen

                                 The Weavers, Norton St/Islington, Liverpool, L3 8LR
                                    Developer                      Niveda Realty
                                   No of Rooms                          738
                                Studios or Cluster              Studios and clusters
                                   Type of Sale                        Fund
                               New Build/Conversion                  New Build

                                   Build Complete                    Aug 2019

Comments/Updates    Large prominent scheme on the corner of Islington /Norton St
UNDER CONSTRUCTION/PROGRESSING

                               Hardman House/Haigh Building, Liverpool, L1 9AS
                                      Developer               Carpenter Investments
                                     No of Rooms                        355
                                  Studios or Cluster           Mixed student/cluster
                                     Type of Sale                       TBC
                               New Build/Conversion                  New Build
                                   Build Complete                    Sep 2019
Comments/Updates    Located fronting onto Hardman Street incorporating Haigh Building

                                           Aura, Low Hill, Liverpool L6 1AU
                                    Developer                      Elliot Group
                                Number of Rooms                 1007 (student units)
                                Studios or Cluster            Predominantly cluster
                                   Type of Sale                      Investor
                              New Build/Conversion                  New Build
                                  Build Complete                       2020
Comments/Updates    Mixed Use scheme on site of former Erskine Industrial Estate

                                    33 Devon Street, Islington, Liverpool, L3 8HA
                                     Developer                Yu Property Group
                                    No of Rooms                       218
                                 Studios or Cluster          Predominantly cluster
                                    Type of Sale                   Investor
                                New Build/Conversion              New Build
                                   Build Complete               Autumn 2020
Comments/Updates    Previously consented scheme has been resubmitted for planning.

                                 Baltic 56, Norfolk Street, Baltic Triangle, L1 0BE
                                    Developer                     Borden Properties
                             Number of Apartments                       126
                                Studios or Cluster                 Student studios
                                   Type of Sale                     TBC/Investor
                             New Build/Conversion                     New Build
                                 Build Complete                     August 2019
Comments/Updates    New scheme in the Baltic located adjacent to the new WO Building.
UNDER CONSTRUCTION/PROGRESSING

                                         The Rise, Low Hill, Liverpool L6 1BP
                                      Developer                  Primesite Developments
                                     No of Rooms                           136
                                  Studios or Cluster              Predominantly cluster
                                     Type of Sale                        Investor
                                New Build/Conversion                   New Build
                                    Build Complete                      Sep 2020
Comments/Updates    Located in a high-profile location close to new Royal Hospital

                                         The Quadrant, Shaw Street, L6 1HS
                                       Developer               Pinnacle Alliance
                                     No of Rooms                      240
                                  Studios or Cluster         204 cluster/36 studios
                                      Type of Sale                  Investor
                                New Build/Conversion               New Build
                                    Build Complete                 Sep 2019
Comments/Updates    Previously stalled scheme bought by Manchester MCR Group

                       STUDENT DEVELOPMENTS
                            PROPOSED/POSSIBLE

                                     Fraser Street/Norton St, Liverpool, L3 8LR
                                    Developer                Mount Property Group
                                   No of Rooms                        566
                                Studios or Cluster            Predominately cluster
                                   Type of Sale                      Fund
                               New Build/Conversion                New Build
                                  Build Complete                      TBC
Comments/Updates    Proposed redevelopment of former National Express bus centre

                                 Mount Pleasant Car Park, Knowledge Q, L3 5TB
                                     Developer            Liverpool City Council/TBC
                                    No of Rooms                      TBC
                                 Studios or Cluster                  TBC
                                    Type of Sale                     TBC
                               New Build/Conversion               New Build
                                  Build Complete                     TBC
Comments/Updates    Proposed large student/mixed use scheme opposite LJMU Copperas
PROPOSED/POSSIBLE

                                        3 Oldham Place, Liverpool, L1 2TD
                                     Developer                Oldham Place Ltd
                                    No of Rooms                      117
                                 Studios or Cluster                Studios
                                    Type of Sale                    TBC
                                New Build/Conversion              New Build
                                   Build Complete                   TBC
Comments/Updates   Small site tucked away on Oldham Place opposite Unite’s St Luke’s

                                    Mulberry Street, Canning, Liverpool, L7 7EE
                                     Developer            Property Capital Development
                                   No of Rooms                         366
                                 Studios or Cluster                  Studios
                                    Type of Sale                       TBC
                              New Build/Conversion                  New Build
                                  Build Complete                       TBC
Comments/Updates   Controversial scheme heavily objected to due to conservation area

                                  Renshaw Hall, Benson Street, Liverpool, L1 2SS
                                     Developer                     Niveda Realty
                                   No of Rooms                          404
                                Studios or Cluster              Studios and clusters
                                    Type of Sale                       Fund
                              New Build/Conversion                   New Build
                                  Build Complete                     Aug 2020
Comments/Updates   New application in for hotel and 404 room student block

                                Former Copperas Hill Police Station, L3 5LD
                                  Developer                TBC/Carpenter Investments
                                 No of Rooms                           206
                              Studios or Cluster               Mixed student/cluster
                                 Type of Sale                         Retain
                            New Build/Conversion                    New Build
                               Build Complete                          TBC
Comments/Updates   Scheme now being sold with the benefit of planning permission
PROPOSED/POSSIBLE

                                    Innovo House, Devon St Fabric District, L3
                                    Developer               Mount Property Group
                                   No of Rooms                       124
                                Studios or Cluster          Mixed student/cluster
                                   Type of Sale            Forward funded investor
                              New Build/Conversion                New Build
                                 Build Complete                   Sep 2020
Comments/Updates   Forward funding deal announced in Mar 2019 with Soilbuild Group

                      STALLED/NOT PROGRESSING

                                      The Paramount, London Road, L3 5NF
                                    Developer                    Pinnacle Alliance
                                   No of Rooms                         477
                                Studios or Cluster             430 cluster/47 studio
                                   Type of Sale                      Investor
                               New Build/Conversion                 New Build
                                 Build Complete                     STALLED
Comments/Updates   Contractor administration issues held back completion/part open
PIPELINES
Listed below are the current pipelines for the relevant asset class in the city centre and our
estimated delivery dates/numbers based upon our market knowledge, schemes, funding etc.

                                             Residential
                                            RESIDENTIAL PIPELINE
                                           LIVERPOOL CITY CENTRE
                    Stage                                            PIPELINE
        Under Construction (ex stalled)                                3,500
                    Stalled                                            751
              Planning Approved                                        9,072
         Proposed/Awaiting planning                                    6,126
                Total Pipeline                                        19,449
                                                 DELIVERY
                                                         Guaranteed                      Anticipated
                Delivery Dates
                                                     (Under Construction)              (City Res view)
               Delivery for 2019                             882                           1,005
               Delivery for 2020                             1,776                         2,090
               Delivery for 2021                             304                           1,342
               Delivery for 2022                              0                            2,162
                Total Delivery                               2,962                         4,437

                                            BTR (Build to Rent)
                                                BTR PIPELINE
                                          LIVERPOOL CITY CENTRE
           Stage                                  NUMBER                                GDV
            Built                                    661                            £108,500,000
    Under Construction                              1,002                           £231,000,000
     Planning Approved                              1,645                           £279,000,000
 Proposed/Awaiting planning                          650                             £52,500,000
        Total Pipeline                              3,958                           £671,000,000
                                                  DELIVERY
                                                 Guaranteed                           Anticipated
       Delivery Dates
                                             (Under Construction)                   (City Res view)
      Delivery by 2018                               661                                  661
      Delivery for 2019                               0                                    0
      Delivery for 2020                              698                                  698
      Delivery for 2021                              304                                 1,173
      Delivery for 2022                               0                                  1,426
       Total Delivery                               1,663                                3,958
                                                Student
                                              STUDENT PIPELINE
                                           LIVERPOOL CITY CENTRE
                  Stage                                                  PIPELINE
      Under Construction (ex stalled)                                      4,589
                 Stalled                                                    488
           Planning Approved                                               1,634
       Proposed/Awaiting planning                                          1,496
              Total Pipeline                                               8,207
                                                 DELIVERY
                                                        Guaranteed                       Anticipated
              Delivery Dates
                                                    (Under Construction)               (City Res view)
             Delivery for 2019                             2,703                             2,703
             Delivery for 2020                             1,886                             3,064
             Delivery for 2021                               0                               1,037
             Delivery for 2022                               0                               1,314
              Total Delivery                               4,589                             6,804
Finance & Mortgage
                                                       (As at 14th April 2019)
                                                         In association with

                                                          0151 548 4448
                                                 www.jpfinancialadvice.co.uk

GENERAL
  • Although the Bank of England continued to maintain the base rate at 0.75% throughout
    the first three months of the year there has been a slight edge upwards in overall
    mortgage rates, particularly with the shorter-term fixed rates. Interestingly some of the
    longer term fixed rates (5 and 10 year) have drifted lower over the last 3 months.

BUY to LET
  • Buy to let rates mirrored the movement in general mortgage rates with shorter-term
     rates slightly higher and longer-term rates static. Some lenders have increased their
     maximum loan to values slightly as the ongoing push for new business in the BtL
     market continues.

                                                   Normal Mortgages
                                                   (Buying and remortgaging)

     Type                  Rate              Period                    Fee               Max LTV                       Lender
    Variable              2.05%                Term                    £999               65%                         Coventry
     Fixed                1.52%               2 Year                   £995               75%                          Natwest
     Fixed                1.69%               3 Year                  £1259               75%                         Santander
     Fixed                1.89%               5 Year                  £1575               75%                          Platform
     Fixed                2.29%              10 Year                   £995               60%                            TSB

                                                Buy to Let Mortgages

     Type                 Rate              Period                     Fee               Max LTV                     Lender
    Variable             1.39%           Tracker/2year                £2385               65%                    Mortgage Works
     Fixed               1.70%              2 Year                    £2368               75%                      Sainsburys
     Fixed               2.19%              3 Year                    £2132               75%                        Godiva
     Fixed               2.15%              5 Year                    £1995               60%                         Leeds
     Fixed               2.74%              10 year                   £1995               65%                    Mortgage Works
  The list of available mortgage offers detailed below is purely intended as a guide and is sourced from Moneyfacts and
GoDirect. It is not intended to be a “best buy” table or offer advice it simply highlights some of the mortgage deals that were
 available on the date shown above which have been recommended by a team of independent experts as their best buys.

     Source: Moneyfacts (www.moneyfacts.co.uk) and GoDirect (http://www.godirect.co.uk)
    YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Written quotations are
available from individual lenders. Loans are subject to status and valuation and are not available to persons under the age of 18. All rates are
  subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing.
ADVERTISEMENT
AUCTION RESULTS
                                            Sponsored by Venmore Auctions
                                                    0151 329 2676
                                                    Next Auction:
                                                 Town Hall Liverpool
Listed below are the auction results for properties (apartments) sold in the quarter in the main city centre postcodes (L1, L2 and L3)
                                      or close periphery – city centre side of (L5, L6, L7 and L8)

                     Address                            Auctioneer      Date      GUIDE £   SOLD £    FLOOR Beds Baths Parking Ant Rental* Yield
Unit 30 Bridgewater Bldg, Bridgewater St, Baltic, L1    Sutton Kersh 28/03/2019   £40,000   £43,000     5th Studio 1     No       £537     14.99%
  Apt AS01, Fox St Village, 50-56 Fox St, L3 3BQ        Sutton Kersh 14/02/2019   £25,000   £27,000    2nd  Studio 1     No       £410     18.22%
  Apt 15 Regency Chambers, Temple St, L2 5BB           Auction House 14/02/2019   £70,000   £72,000    2nd    1    1     No       £650     10.83%

           Fox Street Village                                      Bridgewater Building                            Regency Chambers

If you wish to buy properties at this level of pricing City Residential Ltd offer a buying service which will enable you to purchase at levels normally
                                    only available to seasoned investors and landlords – ring us for more details.
Headline Blog
                      “Tough times ahead for landlords!”
What’s going on?
Landlords used to be the envy of friends and the show off at a dinner party talking about how much income
they had made that month and the capital appreciation their property had seen in the last 12 months.
Whilst those days have not completely disappeared life as a landlord has got tougher over the last 12/24
months and is likely to get worse before it gets better. As the general property market slows more focus
has been placed on the net income buy to let properties generate rather than any capital growth. In the
absence of capital growth (or growth being no more than inflation) landlords are being forced to reevaluate
their portfolios to ensure that they are making a profit on their investment.

What are the specific issues?
The majority of the issue’s landlords are facing can be traced to one specific issue – politics! The rental
sector has become a political hot potato with all the main parties looking to introduce further legislation
(predominately to protect tenant’s interests) in addition to raising additional taxation!

The financial impact of the government’s “interference” on the private rental sector has been extremely
pronounced and has included the following:

   •   Gradual removal of tax relief on mortgage interest (by April 2020 only basic relief provided).
   •   New stamp duty rate on an additional property (for example buy to let) of 3% on first £125,000 and
       5% between £125,000 and £250,000.
   •   Local authority (not government but still legislation!) introduction on licensing schemes costing
       landlords hundreds of pounds per property.
   •   The proposed fee ban being introduced on 1st June 2019 is likely to increase costs as agents
       recover some of their “lost fees” from landlords.

Whist the increase in taxation is an obvious concern the political attention focused on the rental sector is
bringing a raft of legislation that will only make life more difficult in the coming years. Although some of
these changes are positive and will help improve the rental sector it will place more responsibility on
landlords.

   •   Section 21’s –In April 2019 the government announced a consultation which might lead to S21’s
       being banned to stamp out no fault convictions thereby introducing “open ended” tenancies.
   •   Energy efficiency with new minimum standards introduced in 2019/for existing tenancies in 2020
   •   Right to rent – confusion of whether this will still be required after the recent court case
   •   Increase in legislation regarding electrical installation/safety standards (5 year required checks).

Does this mean the end for buy to let investment?
No is the simple answer. Whilst the challenges that lie ahead for landlords are substantial in the current
low interest rate environment property investment still makes sense. This is especially the case if it
balances the rest of an investor’s portfolio of other non property assets such as shares, bonds, cash etc

Are there any positives looking forward?
Looking at the challenges ahead it may seem like a crazy time to buy a property for rent or to even remain
as a landlord. There is no doubt that the legislative and taxation changes have convinced many landlords
to sell up and move out of the sector. This will naturally decrease the amount of rental stock available to
rent which may well have two affects – an increase in rents and tenants less likely to vacate their existing
property. Landlords also have the “comfort” of continued low interest rates. Given the challenges
surrounding Brexit and a slowing economy it is unlikely interest rates are going to rise in the short/medium
term thereby keeping landlords financing costs low in relation to rising rents.
Summary
We were genuinely looking forward to discussing our great future outside of the European Union in this
issue and the early affect the decision had provided to the property market in Liverpool! As we all know
that decision has now been “kicked down the road” like many other European Union challenges (Greek
debt for example!!). Whilst previously we had noted that uncertainty around Brexit had not affected the
market we have seen some weakness during the first quarter in both sales and lettings. This is to be
expected as potential buyers, sellers, landlords and tenants all look for some certainly on which to base
their property decisions going forward.

Apart from the ongoing Brexit shenanigans the first three months of the year have been relatively quiet.
The slowing pipeline (for both student and residential) we have discussed in previous issues continues to
dominate discussions on supply and demand as does concerns for the future of fractional sales. There is
no doubt that sales to overseas/UK investors of Liverpool developments on a fractional sales basis with
“guaranteed yields” is getting tighter as each month progresses.

The political climate in the city also sits high on the agenda of many developers and investors. With local
elections due in a couple of weeks, a new mayoral election process starting soon for the election in 2020
and a relatively new LCC Chief Executive (Tony Reeves) politics will continue to have a visible and
important part to play in how the city develops over the coming years.

Alan Bevan
Managing Director
City Residential
April 2019
0151 231 6100
07970 498187
alan.bevan@cityresidential.co.uk
www.cityresidential.co.uk

NEXT ISSUE: July 2019
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