LIVERPOOL RESIDENTIAL UPDATE - "Tough times ahead for landlords!" - QUARTER 1 2019 - City Residential
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“Tough times ahead for landlords!”
LIVERPOOL RESIDENTIAL UPDATE
QUARTER 1 2019
For regular updates, news and offers follow us on:
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@cityresidential.co.uk
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
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
ADVERTISEMENT
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. . .
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
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
ADVERTISEMENT
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
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Contact
Joanne Shannon
Joanne.Shannon@cityresidential.co.uk
0151 231 6100RESIDENTIAL 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 developmentsFOR 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 developmentFOR 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 residentialPOTENTIAL/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 regenerationPOTENTIAL/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 BreweryPOTENTIAL/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 planningPOTENTIAL/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 TrianglePOTENTIAL/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 roadADVERTISEMENT
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 planningALEXANDRA 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 6100RESIDENTIAL 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 6100BUILD 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 IslandADVERTISEMENT
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 ExchangeThe 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 CarmichaelPOPULATION
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 51,980Student
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 hotelSTUDENT 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 StUNDER 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 CopperasPROPOSED/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 permissionPROPOSED/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 openPIPELINES
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 6,804Finance & 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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