Liverpool’s West Tower development proves popular Print
Written by phat   
Thursday, 07 March 2013 11:42

Nearly half of apartments at  Liverpool’s West Tower  have been sold within just weeks of the scheme being launched, its owners have revealed.

 London-based Delph Property Group, which invests in prestige residential properties, has announced that it has agreed 43 sales since the start of January, making the scheme one of the fastest selling in the history of Liverpool’s city centre residential market.

The firm said the 40-storey building’s luxury two-bedroom apartments, which are on the market from £130,000, have proved particularly popular with current tenants, as well as owner occupiers and investors looking to capitalise on Liverpool’s thriving rental market.

Delph acquired the freehold to the landmark tower from Grant Thornton in December 2012 after its developer Beetham collapsed into administration with just 17 of the 123 apartments sold. The investment is Delph’s first in the north of England.

The company is currently refurbishing the apartments to an as new condition and improving and updating the building’s common areas. (To find out more, click here.)

Richard Forman, head of sales and marketing for Delph, said: “The building was effectively put into stasis with the administration, depriving buyers of the chance to acquire apartments. As a result the relaunch has been greatly anticipated by buyers looking to invest in this landmark building.

“We acquired West Tower because we realised its potential and knew local buyers and investors would want to own part of one of the city’s most iconic buildings. The competitive pricing, yields of nearly 8%, high quality specification and the stunning views are obviously proving too tempting to owner occupiers and investors alike. The response we are receiving from buyers is excellent.”

Jones Lang LaSalle was appointed lead agent for the scheme after securing the deal to sell the building to Delph on behalf of administrators Grant Thornton.

Martyn Green, director and head of residential at Jones Lang LaSalle in Liverpool, said: “Many schemes would struggle to sell this many in a year, let alone one month, so this is a very positive sign both for West Tower itself and the health of Liverpool city centre’s residential market.”

As a sales incentive Delph is offering to pay the stamp duty tax for anybody looking to purchase in the next month.

West Tower was completed in 2007 and boasts views across the city, over the Mersey to the Wirral and as far as Blackpool on a clear day. The building’s 34th floor is home to the Panoramic – Britain’s highest restaurant.

To find out more about West Tower and the opportunities it offers for buyers and investors  click here .

Last Updated on Thursday, 07 March 2013 12:52