Metquarter

Metquarter to become ‘premium dining destination’

Queensberry Real Estate, backed by Bywater Properties, plans to echo the success of its Corn Exchange redevelopment in Manchester at Liverpool’s Metquarter Shopping Centre, following the acquisition of the property for around £18m.

The Metquarter was sold by Columbus UK Real Estate Fund, which bought the site in 2012 from Irish investors. The Irish consortium was rumoured to have purchased the asset for around £85m in 2007.

The centre is made up of 130,000 sq ft retail and restaurant space across 44 units over ground and first floors.

Metquarter LiverpoolQueensberry Real Estate will act as asset manager and developer of the site on behalf of the joint owners.

Paul Sargent, chief executive and co-founder of Queensberry Real Estate, said: “We look forward to extending our successful working relationship with Bywater Properties at Metquarter. Our joint business plan seeks to reposition the Metquarter as a premium dining and retail destination within the city, carrying on our great relationship with restaurant operators that have worked with us at the Corn Exchange, Manchester and Tunsgate Square, Guildford.

“The main objective is to convert the north-west end of the property into A3 use and attract a high quality cluster of restaurants with an all day and evening offer. This in turn will complement the existing retail offer, which includes Jack Wills, Armani Exchange, Hugo Boss and Jo Malone among others.”

The Metquarter is in the Castle Street Conservation Area, fronting on to Whitechapel, Liverpool’s traditional high street. It is also on the fringe of the Cavern Quarter and near to Liverpool One.

Queensberry Real Estate and Bywater Properties were represented by Savills. Coady Supple represented Columbus UK Real Estate Fund.

Your Comments

A Booths would be nice!

By CMW

Shame really, I’d would like to see them stick with retail and get some high end brands in, We don’t have an upmarket shopping destination.Hopefully the restaurants will be a step above the ones at Liverpool One, maybe a Burger and Lobster and Hawksmoor.

By Online Bandit

Not an attractive building (outside or in, new bit or old) and not an attractive part of town. Good luck with that!

By Dogs dinner

Yes if we cant have a Selfridges why cant we have a Harvey Nichols? Or some other high end brand. John Lewis needs a bit of healthy competition too.

By Bob Dawson

Or something like Wade Smith used to be! Bring back Wade Smith! Cmon David and Rob where are you!

By Bob Dawson

Sounds like a good solution for Metquarter to me. This is the old original post office devastated in the blitz with the top two floors blown off. The remaining shell facing Victoria Street was lucky to survive at all. It’s Liverpool One that’s likely to continue expanding the retail offer. And they’re beating Manchester on many fronts bringing people in from the core Manchester catchment area. You hear the accents etc. all over Liverpool now particularly on Saturdays.
The end of Metquarter targeted for restaurants is the older Victoria Street end where the old post-office shell survives. This will boost Victoria Street’s leisure role, already expanding. A beautiful historic street hidden from Whitechapel and the main retail area.

By PAB

The Corn Exchange in Manchester is fantastic since its transformation, and I think proves the concept of a higher-end food court in an historic building setting. I’m sure this could work equally well at Met-Quarter, and as the other comments suggest, would strengthen the prospect of retail consolidation at L1, which wouldn’t be a bad thing.

Good stuff.

By syntax

Strongly agree with Syntax the Corn Exchange Manchester is looking great and is enhancing the area around Manchester cathedral. If Metquarter can emulate this at its Victoria Street end it could lead to other projects at the top end of Victoria Street (municipal buildings car park for example), bringing this end of the Liverpool World Heritage Site to life and creating links to the St. George’s Quarter. The whole of this historic end of Liverpool could then see an uplift including Metquarter.

By PAB

Not so sure about the Corn Exchange.Externallt ,I would agree it is impressive,but internally it looks to me like a posh foodcourt.Something needs to be done about the area around the Cathedral,it is so scruffy and when are they going to bulldoze the hideous Ramada Renaissance hotel? That looks like it hasn’t been cleaned since 1970.

By Elephant

Always thought the area around Manchester cathedral should be Manchester’s priority. It’s a lot better than it was in the 80s when I was a student there, but even when I first arrived at 21 I thought the view to where the Irwell should be (in fact is) was dreadful. That river really could be opened up more from the Manchester side if all the tat and old redundant infrastructure was removed.

Similarly, Liverpool needs to join up historic the Dale Street/Castle Street area with wonderful St. George’s Hall, getting rid of redundant car parks like in Manchester.

By PAB

Liverpool should create a new ‘Victoria Square’ on the Victoria street car park. This site is again left over from the blitz. The council could fund this by selling a small part of the site and allowing development to mask the rear rear of the Municipal Buildings, which was never meant to be seen. This could be a landmark development in glass, still affording views of the clock tower, with cafés and restaurants bringing life to the new square, and forming a high quality leisure route up Victoria Street from Castle Street and on to St. Georges Hall. This would capitalize on Castle Street’s burgeoning leisure role, the new dining area at Metquarter (which might benefit from rebranding – Victoria Centre?), and St. George’s Hall’s/St. John’s Gardens’ /the Plateau’s vast untapped potential.

By PAB

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