Cash-rich buyers still around for three-bedroom flats in Liverpool city centre

LIVERPOOL’S One Park West scheme has seen a demand for bigger, upmarket city centre apartments in spite of the slow residential market.

The upmarket, mixed-use Strand development has one remaining £500,000 three-bedroom apartment (with grand piano), but three more could be easily created on its empty first floor.

Developer Grosvenor claims it has already had 10 enquiries about them. In a prime World Heritage Site at the edge of Liverpool One shopping complex, One Park West overlooks Albert Dock, but its height caused criticism.

Guy Butler, Grosvenor projects director, which handles One Park West, said: “We’ve got a few options. We’ve let all the commercial space with the last ground floor units as a BUPA clinic and a bike shop. The under-catered market is for bigger-than-the-norm one or two bedroom flats, proven by the healthy sale of our 15 three-bedroom flats.”

Buyers are mainly wealthy ‘empty- nesters’ and people who want to entertain in town.

“They’re cash-rich, risk-averse self-employed or professionals, who want to enjoy the high life rather than invest their money at low returns,” added Mr Butler. “The flats have air conditioning and a good spec, more in keeping with London.

"There are no other new flats of this size available in Liverpool. We knew there was a demand, but wanted the right business-residential mix. Purchasers will be asked to design flats to their own spec. We have planning permission. We could be on site within two months and be finished by Easter.”

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