£70m deal for Mann Island apartments is biggest in Liverpool's history

Jan 17 2008 by Richard Down, Liverpool Daily Post

THE city’s biggest-ever residential property deal has been struck with the sale of almost 400 apartments in the shadow of the Three Graces.

The residential element within the three controversial granite wedges planned for Mann Island has been bought in a £70m deal.

Joint developers Countryside Properties and Neptune Developments have sold all 376 waterfront apartments to investment group, Dylan Harvey.

And the new owners say more than half of the homes, which cost the group an average of more than £180,000 each, have already been reserved.

The development lies in the heart of Liverpool’s World Heritage Centre and the ultra-modern development in black granite will be set against the landmark Royal Liver Building.

Neptune Development’s managing director Steve Parry said: “We are delighted to have exchanged contracts with one of the region’s leading investment and property companies. The deal confirms the underlying strength and confidence of Liverpool’s residential market.”

Liverpool council leader Warren Bradley also welcomed the news.

He said: “It’s important that any development in this highly sensitive waterfront site is of the highest standard.

“Dylan Harvey has a great track record of delivering high- quality and prestigious buildings.”

The new owners are responsible for arranging finance and service packages for individual investors and purchasers. They hope this work will fill the apartments before the completion date, provisionally set for the middle of 2009.

Dylan Harvey group’s managing director Toby Whittaker said: “We are very proud to have purchased the best residential site in Liverpool’s history. Sales have been very strong with over half of the site reserved already. I have been very impressed with Neptune Developments and Countryside Properties attention to detail throughout the whole design of the scheme, and look forward to doing more business in the future.”

Martyn Green, partner at property consultants King Sturge, Liverpool, brokered the deal after Dylan Harvey approached them last March.

He said: “We suggested they buy into Mann Island. They offered to buy every apartment and we couldn’t believe it.

“By anyone’s standard, 376 sales in a day is quite an achievement .”

The development comprises two 10-storey residential buildings together with a third building which includes 100,000 sq ft of commercial office space.

Homes will offer views of both the city and River Mersey and will include roofscapes with terraces, wintergardens and sheltered residential courtyards.

In addition, there will be 76,000 sq ft of retail space at ground floor level.

Work on the project was delayed in the autumn as archeological excavations took place to unearth and catalogue three centuries of building including cobbled streets, and an ornate police station.

HEAR Liverpool Vision Chief Executive Jim Gill’s opinions on the future of Liverpool skyscrapers at www.liverpooldaily post.co.uk

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