Mann Island is arguably Liverpool's most significant development scheme since Grosvenor's Liverpool One. Occupying a highly prominent parcel of land between the Three Graces and The Albert Dock, Mann Island lies on the City's world famous waterfront; a UNESCO World Heritage site. Our client, Neptune Countryside LLP, proposed a mixed-use development with two high quality residential buildings, a 483 space underground car park and an office building.
The 139,583 sqft Grade A office building arranged over ground and 13 upper floors will be built to a BREEAM excellent rating.
The entire property was pre-let to Merseyside Passenger Transport Authority (Merseytravel) on a 30 year lease at an initial rent of £3,014,452 per annum. Mason Owen was instructed by the developer, to secure an investor to forward fund the office development.
Following a targeted marketing campaign, terms were agreed with Commerz Real Investmentgesellschaft (CRI) to purchase the development for approximately £45M. The development reached practical completion in May 2011 and MPTA are expected to take occupation in early 2012.