Queensberry Real Estate and Bywater Properties have exchanged on what will be their second joint acquisition. The companies, which have already successfully united together at Kingsway Centre in Newport, will take ownership of Metquarter Shopping Centre in Liverpool from Columbus UK Real Estate Fund.
The centre comprises 129,102 sq ft retail and restaurant space across 44 units over ground and first floors. Metquarter benefits from a city centre position 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 in close proximity to Liverpool One.
Queensberry Real Estate will act as asset manager and developer of the site on behalf of the joint owners. Paul Sargent, CEO 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"
Theo Michell, Principal of Bywater Properties added:
“The acquisition of the MetQuarter is an exciting project in a market where we have long standing connections. We are delighted to be working once again with the Queensberry Real Estate team on such a transformational project.”
Queensberry Real Estate and Bywater Properties were represented by Savills. Coady Supple represented Columbus UK Real Estate Fund.