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Thread: Baltic Triangle and Queens Dock Areas

  1. #91
    DaisyChains
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    Quote Originally Posted by snappel View Post
    Despite a lack of cranes, I revisited the site to climb the service core. Tricky, but do-able...



















    does anyone have any updates on this story at all?

  2. #92
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    A KEY gateway site over-looking Liverpool’s historic waterfront is likely to be left semi-derelict for years, after a marketing campaign to 800 developers failed to find a buyer.

    Administrators were brought in to determine the future of the Baltic Triangle site last spring, after a legal wrangle between developers, Windsor Developments (Liverpool) and contractors Laing O’Rourke.

    The site, spanning The Strand and Hurst Street, was destined to be the first part of the development, a £50m high-rise apartment scheme, boast-ing one of the finest addresses in the city. The three apart-ments blocks would have seen the start of an influx of 4,000 people to live in the Baltic Triangle, and would have been sited on the former premises of chandlers Joseph Lamb and Sons, owned by veteran politician Sir Trevor Jones.

    Since March last year, BDO Stoy Haywood, which has offices in Manchester and London, has been overseeing the administration of Windsor Developments Liverpool.

    According to documents lodged at Companies House, the company collapsed owing £25.5m to Barclays, while Laing are seeking to recover £19.8m, and more than £1m is owed to other service providers.

    A letter to creditors states the site was placed on the market by property agents Savills in August last year.

    “This campaign targeted 800 dev-elopers, from which a number of for-mal offers were received,” states the letter. It adds: “These offers were given careful consideration by my agents, but it was felt that no accept-able offers were made. We are now considering alternative strategies to maximise the return to creditors.”

    BDO have been given permission by Barclays to extend the administr-ation until September, and last night the company said it was still looking at the options for the site.

    It is understood there has been a dispute over the value of the site, and the book value of £48m placed on it by Windsor director Stephen Ives.

    He said that figure was based on valuations received by Savills and another property consultancy.

    Mr Ives said: “That was a long time back at the peak of the market, since then everything else I have heard is speculation. I imagine it is very diffi-cult for anyone to fund it in the curr-ent market. This is one of the first ones (projects) to be hit by the credit crunch.”

    It is believed the site is only worth around £10m today, although it is un-derstood that during marketing, a £15m offer was turned down.

    A source said the use for the site had to be reconsidered, given the economic conditions. “Even if some-one bought it tomorrow, they would wait two or three years to do any-thing with it, given today’s market,” the source added.

    It is possible the building’s foot-print would have to be used in any plan, given the money already spent on steel and concrete at the site.

    Riverside Labour Cllr Steve Munby, who represents the area including the Baltic Triangle, said: “I am not surprised they have not found a pur-chaser for the site. This case perfectly captures the hysteria which gripped Liverpool at the peak of the property boom. I hate to say ‘I told you so’.

    “This is still a key site that is pot-entially worth a lot. I think the city needs to bring forward clear ideas on what we would like to see here.”

    Liverpool council leader Warren Bradley expressed concern, adding: “Liverpool is bucking the trend, but there is a slowdown and it is biting in the residential development market.

    “Speaking to developers, they are sitting on their hands until they can see an upturn in the market.”

    Windsor Developments Liverpool, run by three partners, burst onto the Liverpool scene in 2005 with ambi-tious plans to create a billion-pound urban village on the fringe of Gros-venor’s Liverpool 1 project. They bought ship chandlers Joseph Lamb and Sons and demolished the premis-es to make way for an apartment block fronting Strand Street.

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  3. #93
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    Default Sell off Baltic Triangle site fails

    Bid to sell off Baltic Triangle site fails
    Jul 24 2008 David Bartlett



    A KEY gateway site overlooking Liverpool’s historic waterfront is likely to be left semi-derelict for years, after a marketing campaign to 800 developers failed to find a buyer.

    Administrators were brought in to determine the future of the Baltic Triangle site last spring, after a legal wrangle between developers, Windsor Developments (Liverpool) and contractors Laing O’Rourke.

    The site, spanning The Strand and Hurst Street, was destined to be the first part of the development, a £50m high- rise apartment scheme, boasting one of the finest addresses in the city. The three apartments blocks would have seen the start of an influx of 4,000 people to live in the Baltic Triangle, and would have been sited on the former premises of chandlers Joseph Lamb and Sons, owned by veteran politician Sir Trevor Jones.

    Since March last year, BDO Stoy Haywood, which has offices in Manchester and London, has been overseeing the administration of Windsor Developments Liverpool.

    According to documents lodged at Companies House, the company collapsed owing £25.5m to Barclays, while Laing are seeking to recover £19.8m, and more than £1m is owed to other service providers.

    A letter to creditors states the site was placed on the market by property agents Savills in August last year.

    “This campaign targeted 800 developers, from which a number of formal offers were received,” states the letter. It adds: “These offers were given careful consideration by my agents, but it was felt that no acceptable offers were made. We are now considering alternative strategies to maximise the return to creditors.”

    BDO have been given permission by Barclays to extend the administration until September, and last night the company said it was still looking at the options for the site.

    It is understood there has been a dispute over the value of the site, and the book value of £48m which was placed on it by Windsor director Stephen Ives.

    He said that figure was based on valuations received by Savills and another property consultancy.

    Last night, Mr Ives said: “That was a long time back at the peak of the market, since then everything else I have heard is speculation. I imagine it is very difficult for anyone to fund it in the current market. This is one of the first ones (projects) to be hit by the credit crunch.”

    It is believed the site is only worth around £10m today, in today’s market, although it is understood that during marketing, exercise a £15m offer was turned down.

    A source familiar with the situation said the future use for the site had to be reconsidered, given the economic conditions. “Even if someone bought it tomorrow, they would wait two or three years to do anything with it, given today’s market,” the source added.

    It is possible the building’s footprint would have to be used in any future plan, given the amount of money already spent on steel and concrete at the site.

    Riverside Labour Cllr Steve Munby, who represents the area including the Baltic Triangle, said: “I am not surprised they have not found a purchaser for the site. This case perfectly captures the hysteria which gripped Liverpool at the peak of the property boom. I hate to say ‘I told you so’.

    “This is still a key site that is potentially worth a lot. I think the city needs to bring forward clear ideas on what we would like to see here.”

    Liverpool council leader Warren Bradley expressed concern, adding: “Liverpool is bucking the trend, but there is a slowdown and it is biting in the residential development market.

    “Speaking to developers, they are sitting on their hands until such a time they can see an upturn in the market.”

    Windsor Developments Liverpool, run by three partners, burst onto the Liverpool scene in 2005 with ambitious plans to create a billion-pound urban village on the fringe of Gros- venor’s Liverpool 1 project. They bought premises of ship chandlers Joseph Lamb and Sons.

    The store, dating back to the 1700s, and demolished the premises to make way for an apartment block fronting Strand Street.

    To celebrate the Manhattan feel of the blocks, they were even given New York names, Lexington, Liberty and Lincoln.

    The first signs of trouble at the Wapping site emerged in June, 2006, when work on the scheme was halted by Laing.

    Two months later, Laing removed almost 200 builders from the project, believed to have been over the timing of payments by the developer.

    In April, 2007, three skyscraper cranes and site equipment, which had been idle for months, were removed from the site by Laing’s own crane company.

  4. #94
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    Quote Originally Posted by Kev View Post
    A KEY gateway site over-looking Liverpool’s historic waterfront is likely to be left semi-derelict for years, after a marketing campaign to 800 developers failed to find a buyer.

    ...

    Riverside Labour Cllr Steve Munby, who represents the area including the Baltic Triangle, said: ... “This is still a key site that is pot-entially worth a lot. I think the city needs to bring forward clear ideas on what we would like to see here.”

    As long as the Baltic keeps brewing beer they can build a morgue for all I care
    /Bob

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    LIVERPOOL?S second Hilton Hotel is to anchor a ?47m development in the Baltic Triangle, which yesterday secured significant funding.

    The Kings Dock Mill development will also include 188 apartments and 3,600 sq ft of office space.

    Lloyds TSB Corporate Markets confirmed yesterday it had agreed to provide ?22.5m to architect-developer LAG Prichard despite the ongoing economic uncertainty.

    The scheme has already received ?5m mezzanine funding from Investec Private Bank.

    Jonathon Prichard, of Liverpool-based LAG Prichard, believes this agreement shows the confidence and strength within the city.

    ?This development is another sign of Liverpool?s continued renaissance ? the fact that we secured funding for this scheme and can now start on site in the current market place shows its quality and the confidence we have in the city. We?ve worked closely with the city council and Liverpool Vision to ensure that the scheme is in keeping with the existing architecture in this area of Liverpool.?

    The 151-bedroom hotel will be operated under the Hampton by Hilton brand, which is the firm?s vehicle to enter the economy hotel market. Hampton by Hilton Liverpool City is only the third to be commissioned in the UK, with others planned for Corby and Birmingham.

    A Hilton spokesperson said: ?Liverpool is a key location as we seek to introduce the Hilton family of hotels in the UK.?

    It is part of Hilton?s ambition to double the number of hotels it has in the UK to 150 within a decade. It will be run as a franchise by Somerston Hotels.

    The hotel is due to open at the end of 2009. The 1.5-acre Kings Dock Mill development, which is on the former site of flag manufacturers Porter Bros, is due to be completed in January 2010. more >>
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    FOUNDATION work has started at the ?47m Kings Dock Mill development in the Baltic Triangle.

    The project includes a 150-room Hampton by Hilton luxury hotel and 190 one and two-bedroomed flats.

    Work began after the scheme recently received ?22.5m of funding from financial backer Lloyds TSB Corporate Markets.

    Liverpool architect LAG Pritchard is behind the development at the back of the Baltic Fleet pub.

    Director Jonathon Pritchard said: ?This scheme will transform an old warehousing site into a vibrant mixed use development, anchored by a new hotel.?

    He praised the input of regeneration agency Liverpool Vision: ?It is a great example of the public and private sector working together to ensure the delivery of quality schemes.?

    Vision development manager Barry McGorry said: ?This hotel development will enhance Liverpool?s status as an international visitor destination.?

    Source: LDP
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    That *is* good news. Hopefully another notch in expanding the city centre and bringing some life back into Park Lane.

    Dave.

  8. #98
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    Exclamation Liverpool's Baltic Triangle project Crunch Talks

    OVER-LOOKING Liverpool?s waterfront, it was destined to be one of the finest addresses in Liverpool.

    The ?50m high-rise apartment scheme in the Baltic Triangle was also supposed to be the start of an influx of 4,000 people to live in the area and attract ?1bn of investment.

    But, almost three years ago, the L1 scheme by Windsor Developments on the site spanning The Strand and Hurst Street, came to a halt.

    At the time, director Roger Darwin said his company was finalising a funding package with his bankers, but that work would resume.

    The scheme had been dreamt up in 2005 at the height of the property boom, with prices ranging from ?248,950 for a study bedroom apartment to ?572,950 for a two-bedroom duplex.

    In March, 2007, administrators BDO Stoy Haywood were called in by Barclays, which had issued a ?25.5m mortgage for the site, following a dispute between Windsor and construction giant Laing O?Rourke.

    BDO has marketed the site to more than 800 companies since then and been unable to find a buyer.

    The administrators are now starting the formal process of liquidating the company to wind it up.

    It can also be revealed that Barclays now has an interested party and new plans are being talked of.

    Officials from the bank are meeting Paul Rice, chief executive of Liverpool Commercial District Partnership, today.

    ?We are proposing to set up a working party, this is just the initial meeting to see what will happen with the site,? said a spokesman for Barclays.

    He said he did not want to pre- empt the meeting by discussing what use the site might now be given over to.

    Mr Rice said: ?They have asked me for a bit of advice, as they have got somebody interested in the site.

    ?The reason they have come to me is to find out how to engage other partners around the area to make it work.?

    He was hopeful a solution could be found for the key landmark site.

    Jim Gill, chief executive of regeneration agency Liverpool Vision, said: ?It?s an important site. If you drive along The Strand, you can see it as something that?s not finished and therefore it is a problem in that sense.

    ?But, if you go to any UK city, you would see schemes that have stopped.

    ?In the current market, I am not sure there is a residential solution in the short term.

    ?It is important, though, that there?s a medium-term solution for it.

    ?I don?t think one should get excited and think it can be solved quickly.?

    According to documents lodged at Companies House, Laing is seeking to recover ?19.8m, and directors Roger Darwin, Stephen Ives and Anthony Robson claim to be owed ?3.5m.

    The majority of the money spent with Laing went into steel and cement for the high-rise apartment scheme.

    Regeneration experts believe that, given the tonnes of concrete and steel already there, the likelihood is that any new building would have to be on the same footprint.

    Valuing the site could also prove problematic, as it is understood there had been a book value of ?48m placed on it. Previously, the site was thought to be worth around only ?10m, although an offer for ?15m is believed to been rejected.

    Last night, Riverside Labour Cllr Steve Munby, who represents the area, including the Baltic Triangle, said: ?I am glad we are finally seeing some action on this site, as it is of such importance to the city.

    ?It is an eyesore and looks like a symbol of a city in decay.

    ?I can see no realistic prospect of the private sector delivering in the short term on this site, and I think there are other priorities for public spending on regeneration schemes and housing.

    ?In my view, the priority should be to remove the symbols of dereliction and manage the site for now as public open space.

    ?I think it could be done relatively cheaply, and would be an attractive link between the Echo Arena, the waterfront, Liverpool One and the rest of the city.

    ?That might not make a quick buck for Barclays, but we are not in the business of being a benefit line for bankers.?

    Simon Holt, owner of the Baltic Fleet pub, which sits adjacent to the site, said he was supportive of Cllr Munby?s park idea.

    ?Our biggest gripe is about the hoardings around the site because they obscure the view of our pub.?

    The Grade II-listed 19th century pub is the only listed building remaining on The Strand.

    ?I would support the park idea, no question. Or any business that would bring people in, actually anything that is done quickly, quite frankly.?

    The Windsor Group burst on to the Liverpool scene in 2005 with ambitious plans to create a billion-pound urban village on the fringe of Grosvenor?s Liverpool One project. They bought, for their flagship scheme, the premises of ship chandlers Joseph Lamb and Sons, owned by veteran politician Sir Trevor Jones.

    The store, dating back to the 1700s, was demolished to pave the way for an apartment block fronting Strand Street.

    To celebrate the Manhattan feel of the blocks, they were even given New York names.

    LDP

    Further Discussion:

    Baltic Triangle and Queens Dock Areas

    The Baltic Triangle - what's Baltic about it?

    Sell off Baltic Triangle site fails
    Last edited by Kev; 04-07-2009 at 08:01 AM.
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    BARCLAYS bank is now set to meet key figures in Liverpool to decide how to develop an abandoned key gateway site overlooking the city?s waterfront. Read


    ADVERTISING


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