THE new owner of Liverpool’s tallest building, West Tower, says more than a quarter of the apartments in the skyscraper have been sold within weeks of going on sale.
London-based Delph Property Group bought the 40-floor tower in October and began marketing the apartments for sale last month.
Since then, Delph – which acquired 104 apartments as part of its takeover deal –
has agreed 27 sales. It says that makes the scheme “one of the fastest selling in the history of Liverpool’s city centre residential market”.
Delph says the two-bedroom apartments, which went on sale from £130,000, have proved popular with existing tenants, new owner-occupiers and property investors.
The company pledged to breathe new life into the landmark after buying it from administrators Grant Thornton.
The tower was originally built by developer Beetham, but its holding companies fell into administration in 2011 after they were battered by the housing market crash.
The tower’s previous owners had also been unable to sell 60 apartments because they overhung a small piece of publicly-owned land, meaning the Land Registry would not agree to any deals. But that was resolved when Grant Thornton paid the council £500,00 for the land, enabling it to complete the deal with Delph.
Delph is also refurbishing the tower’s public areas and all apartments.
Richard Forman, head of sales and marketing for Delph, said: “The building was effectively put into stasis with the administration, depriving buyers of the chance to acquire apartments. As a result the relaunch has been greatly anticipated by buyers looking to invest in this landmark building.
“We acquired West Tower because we realised its potential and knew local buyers and investors would want to own part of one of the city’s most iconic buildings.”
Jones Lang LaSalle was appointed lead agent for the scheme after securing the deal to sell the building to Delph on behalf of Grant Thornton.
Martyn Green, director and head of residential at Jones Lang LaSalle in Liverpool, said: “Many schemes would struggle to sell this many in a year, let alone one month, so this is a very positive sign both for West Tower itself and the health of Liverpool city centre’s residential market.”