Knowledge Quarter development opportunity comes to market
The Archdiocese of Liverpool is selling a three-acre plot capable of accommodating more than 900 student beds, around 460 apartments, and up to 300,000 sq ft of lab and office space.
CBRE has been instructed to market the Mount Vernon Road site, which could be of interest to a broad range of purchasers.
Feasibility studies carried out by architect Brock Carmichael outline the site’s potential. Lab space, offices, apartments, and student housing could all be delivered.
One option is a purely residential scheme comprising around 460 apartments over three blocks. Brock Carmichael also estimates the site could accommodate a pure student scheme of up to 918 units across four blocks.
Another scenario could see the site redeveloped into a mixed-use development featuring flats, offices, and lab space.
Brock Carmichael has worked up several iterations of how this type of project could be delivered with options for between 153 and 263 apartments, 189,000 sq ft and 68,000 sq ft of offices, and 113,000 sq ft and 57,000 sq ft of lab space on the table.
Situated next to the new Royal Liverpool Hospital and Paddington Village, the plot is well-located to benefit from Liverpool City Region’s investment zone status.
The government has agreed to invest £160m in life sciences over the next decade, with Liverpool’s Knowledge Quarter expected to act as the engine room of the initiative.
Plans for lab space at Paddington Village are already in the works, with two buildings, Hemisphere and Compound Labs, lined up to provide more than 150,000 sq ft of laboratories.
Neil Kirkham, senior director at CBRE, said: “Due to the highly prominent location at the end of Edge Lane and the junction of Low Hill and Mount Vernon, coupled with the proximity to the new Royal Liverpool Hospital, Clatterbridge Cancer Hospital, University of Liverpool campus, and Paddington Village, we believe this is one of the most strategic development sites in Liverpool City centre.
“The site is suitable for a variety of uses including PBSA, BTR, Offices, hotels or Laboratories. We are expecting significant interest in this site.”
