THE Albany Building in Old Hall Street has proved bad luck for several property developers.
Built a little more than 150 years ago, the Grade II-listed building has been a bogey for two decades.
Back in 1998, a London developer, Empire Properties, abandoned plans for a 152-apartment scheme worth £4.5m after English Partnerships refused to provide funding.
The building was then acquired by Liverpool property developer Chris Nisbet’s Albany Assets, which planned to convert it into 120 apartments, shops, car parking and a doctors surgery. That project though was dogged by disputes with construction contractor David McLean and eventually ran into the start of the credit crunch and property market slowdown.
Albany was unable to sell about half of the flats.
The latest owner, Infinity, bought the Albany Building from the administrators, presumably at a knock-down price. Now, at a time when others are still sitting on their hands, Infinity is bringing 70 refurbished flats to market.
There is some anecdotal evidence around that the Liverpool city centre urban living market is no longer suffering from the degree of over-supply that has afflicted it in recent years. According to one report, there are now 30,000 people living in the city centre, many of whom are students, bought or rented accommodation by parents.
The building is certainly historic. It would be good to see this latest venture prosper. It would also be a sign that life is coming back to the market.
ON the subject of life returning, it is heartening to hear that Peel Ports is dusting off its previously stalled plans for an in-river post-panamax terminal.
This new quayside, to be built along the sea wall of the existing Royal Seaforth Dock, would allow the Port of Liverpool to handle much bigger vessels than those that currently use the Mersey.
It is more than a nice- to-have facility. It is essential to the future of shipping on the Mersey.
These huge vessels are increasingly the way goods are shipped around the world. Some of them will circle the world continuously, moving non-stop from the Far East to Central America to Western Europe etc.
In 2014, the vessels will be able to pass through the widened Panama Canal. When that happens, the only ports that will prosper will be those with the facilities ready to handle them. If Liverpool’s new facility isn’t built in time, the port will be relegated to the second division of maritme centres. That can’t be allowed to happen.
BRITAIN is home to a number of anachronistic institutions, including the monarchy and the Post Office.
The nation could and should get along without them in this day and age, but too many people cling on to deeply-held sentiments.
Margaret Thatcher and all successive prime ministers have tried and failed to privatise, float or sell the Post Office one way or another. They have always come across political resistance.
The plans unveiled by the Government yesterday are in one sense an admission of defeat.
There is no talk of sale or privatisation. In another sense, though, they are impressively innovative. Acknowledging Britain’s sentiment for its venerable institution, the Government has scratched its head hard and come up with a plan that attempts to make Post Offices more relevant to the modern age, even the digital age.
Wonder if they can do the same with the Monarchy?
