The Metalworks in Liverpool has been given a new lease of life, thanks to a deal forged between independent property service Acentus Real Estate and Birmingham-based brothers Justin and Christian Hipkiss. Both parties are in the final stages of the legal process with the current owners and new sub-contractors to move the site forward and start construction.
Originally granted planning permission in February 2017, development of The Metalworks become delayed due to protracted legal negotiations over land acquisition and the site’s Section 106 agreement. Now, Acentus Real Estate has formed a joint venture with the Hipkiss brothers in order to complete the project.
“At its heart, The Metalworks remains an exciting and fundamentally achievable development. We’re thrilled to have had the opportunity to update and expand upon the original designs, meaning that the relaunched site will be bigger, bolder and more diverse, adding even greater value to the Pumpfields area.” Simon Clarke, Director, Acentus Real Estate.
The new and improved design includes higher specification apartments and a huge communal and public realm, while discussions are taking place for a state-of-the-art gym to be included.
The building will house a total of 319 apartments. Approximately 60% of the residences will have two bedrooms, while the rest will have one, in line with current demand in the Pumpfields and wider Liverpool area. The Metalworks will also feature a 24/7 concierge, on-site parking, bicycle storage and communal first floor gardens.
Designed to meet the needs of young professionals and families, the homes include living areas and bedrooms with floor to ceiling windows, flooding the homes with natural light and providing impressive city and river views. Kitchens and bathrooms are generously proportioned and efficiently designed.
Acentus Real Estate specialises in the acquisition and distribution of fully managed residential, mixed use and buy to let properties. Director Simon Clarke has a successful track record of selling off-plan residential properties and property-related products to a global investor community, having been director of real estate companies in the UK, Spain and the UAE. As part of Acentus Real Estate, he has been involved with the Metalworks from conception.
The Hipkiss brothers, meanwhile, hold combined property experience ranging from lettings, sales and investment to land acquisition and development. Younger brother Justin has been the director of several franchises within Belvoir Plc. He has been involved in the property industry since 2008/09, over which time he has managed multiple branches in lettings and sales departments and run the market-leading company’s head office. In 2015 he became director of his own branch, which he set up from scratch. Justin currently owns two successful branches, having built valuable relationships with landlords, vendors and investors in the UK and overseas.
Elder brother Christian Hipkiss is CEO of Respects Bereavements, a company that acquires and develops land for cemeteries. His company is building multi-faith cemeteries across the UK, working with local funeral directors and communities while delivering a national service. FCA regulation means that he is able to offer flexible financial planning costs, with clients able to purchase burial plots through an online portal. With a current asset value of over £25 million, Christian is responsible for the day to day running of the business, as well as generating additional value and investment propositions.
Together, Acentus Real Estate and the Hipkiss brothers will be presenting The Metalworks to investors, with individual apartments available from £108,360. Original investors will have already seen their original investment grow in terms of capital growth of at least 5%.
“With Liverpool City Council renewing its focus on the regeneration of the Pumpfields area, now is the ideal time to breathe new life into The Metalworks. Construction is due to begin in September and, having been involved in this project since its inception, we are delighted that the time has come to turn the vision for this impressive development into a reality.” Simon Clarke, Director, Acentus Real Estate.
Development in the Pumpfields area will focus on creating a sense of place, as a number of new buildings spring up. The Metalworks will play a key role in that, helping to set the tone in terms of the contemporary urban lifestyle on offer. The development is on the edge of Liverpool’s commercial and business district and the ambitious Ten Streets regeneration project, meaning that residents will enjoy easy access to Liverpool’s business, retail and leisure amenities. The city’s celebrated UNESCO World Heritage waterfront is also just a short walk away, where where Peel Holding will develop the Liverpool waterfront at a cost over £5.5 billion encompassing residential, commercial, hotel and leisure amenities.
The Metalworks’ new owners are in final negotiations with new sub-contractors who are able to construct a project of this size and specification, to finalise development costings and initiate a construction start date.
In the meantime, work will start in late June to demolish the existing building, assemble the hoarding around the site perimeter and start the enabling/ground works prior to construction.
For more information, visit acentusrealestate.com or call 0151 958 0440.