Crash rehearsal studios up for sale
The Imperial Warehouses building on Davies Street in Liverpool, which has planning permission for an aparthotel, is being sold after its owner Mantra Homes was placed into receivership in January.
Manchester-based surveyor Fletcher Bond has been appointed to sell the 14,000 sq ft building, known as Crash Rehearsal Studios. The asking price has not been revealed and Fletcher Bond is “inviting offers”.
The property was built in 1878 and originally used to store fruit and vegetables.
In 1987, Mark Davies and Jonathan White opened Crash Recording Studios, which has hosted many high-profile Liverpool artists including Echo and the Bunnymen, The Zutons and Atomic Kitten.
Following the closure of the studios in 2018, developer Mantra Homes was granted consent to convert the four-storey building into a 34-room aparthotel.
The plans featured a ground-floor bar and restaurant and basement recording studios, as well as a musical “walk of fame” along Davies Street, the cobbled alley between Stanley Street and Dale Street where the building is located.
However, the building is now being sold out of receivership from Mantra, and as part of administration proceedings also ongoing for the property’s lender, Fundingsecure.
Fundingsecure provided a special purpose vehicle owned by Mantra Homes with a loan for Imperial Warehouses in 2018.
Last October, Fundingshare appointed administrators that are in the process of realising outstanding loans from debtors, of which Mantra, in administration, is one.
The loan on Imperial Warehouses was one of three that Mantra took out from Fundingsecure between 2017 and 2018.
Rory Dillon, managing director of Fletcher Bond, said: “Imperial Warehouses is one of Liverpool’s hidden gems with an amazing history and many original features. It is in a prime city centre location and not only has permission for conversion to an aparthotel, but also a previous consent for use as a gym.
“However, because of its large, flexible floorplates, it would suit a whole range of other uses from offices, a youth hostel or student accommodation, to a nightclub or a pop-up leisure venue.”