The University of Liverpool has brought its Carnatic Halls of Residence site in Mossley Hill to market.
The facility opened in 1964 and was operational through to June 2019, when it was closed as part of the university’s long-term residences strategy, which has seen the opening of new accommodation sites on campus and refurbishment of Greenbank Student Village, collectively bringing more than 4,000 new student beds to the university’s estate.
The Carnatic site covers approximately 22.2 acres, representing a significant development opportunity in the popular suburb.
The former accommodation buildings are still in situ, and will remain as part of the sale. The rest of the site comprises of open grassland and a small wooded area.
Offers are being invited for the site by informal tender and are to be conditional on the outcome of a successful planning application – a pre-application report was issued by Liverpool City Council in November 2018, which stated that redevelopment of the site for residential purposes would be acceptable in principle. A development framework has also been produced and agreed through consultation with the council.
As to what the site might be expected to bring in, the university has made it explicitly clear that it does not want to trigger any speculation around value or pricing. However, one professional involved in the market told Place North West that “broadly, you might expect something in the area of £800,000 per developable acre – but it might depend on how much any purchaser might have to deal with conservation area restrictions, Tree Preservation Orders and so on”. At that estimated price, a 22-acre site would be valued at £17.6m.
The university’s disposal follows the earlier sale of land for housing at the Mossley Hill site.
Chris Lewis, property manager at the University of Liverpool, said: “We are bringing the Carnatic Residences site to market. It represents a significant residential development opportunity and we anticipate a high level of interest.
“Public consultations will occur through the planning process once a developer has been chosen to acquire the site, however the university intends to keep closely associated throughout the process.” Lewis’s team is managing the sale.