Quay Central is a high-specification new-build development located in a core part of Liverpool Water’s future cultural and leisure hub – Central Docks. Reflecting Liverpool’s industrious heritage, the building’s exteriors exude a warehouse aesthetic to fit in with the area’s ambience.
Quay Central will be the first development launched in Liverpool Waters and will be located in Central Docks – the scheme’s cultural, entertainment and leisure hub.
Quay Central Essentials
We’re very excited about Liverpool’s growth story and trust that the revival of the city’s historic waterfront will follow in the footsteps of Albert Dock’s success. The drivers of Liverpool Waters is none other than the world renowned Peel Group, responsible for the incredibly successful Media City in Manchester, giving us full confidence that the project is set to prosper.
Liverpool Investment Case
One of the UK’s fastest growing economies outside of London – Liverpool City Region’s economy is set to double to GBP50 billion by 2040. A number of diverse industries drive Liverpool’s economy. It has the UK’s largest wealth management centre outside London handling over GBP13 billion in assets, the largest concentration of biopharmaceutical companies in Europe and the second-fastest growing digital and creative sector in the UK. 100,000 new jobs and 20,000 new businesses are expected to be created over the next 25 years.
Investment and regeneration
Generating over GBP7 billion investment, the Northern Powerhouse scheme is designed to strengthen connectivity and create a more diverse and efficient regional economy that will benefit the UK as a whole. The Northern Powerhouse Investment Fund will contribute over
GBP500 million to help SMEs achieve their growth ambitions and revitalise local economies, with Liverpool City Region benefitting from GBP72 million.
Enhanced connectivity is a core focus, to encourage greater collaboration between the major cities of the North. An already well-connected Liverpool will also see shorter journey times to London via Crewe (down from 2 hours to just 92 minutes) when HS2 is delivered in 2033.
Currently hosting five of the six largest shipping lines in the world, Liverpool will also benefit from the GBP1 billion Superport. The regeneration project will integrate the city’s ports, airports, freight community and its surrounding logistics infrastructure into a global freight hub, capable of handling 95% of the world’s container ships.
The highly-anticipated Liverpool Waters will convert Liverpool’s historic prime waterfront area into a 150-hectare waterfront quarter of residential, commercial and leisure space for central Liverpool. Central Docks will be the most prominent area of the scheme, and will have 166,000sqm of office space, a 25,000sqm area for restaurants and bars set around a green space and public square. Central Docks will also have a new Isle of Man Ferry Terminal and Embassy.
Liverpool’s population is forecast to grow at a significantly faster rate compared to the broader region. This growth is driven largely by the city’s thriving economy causing an increase in housing demand. JLL forecasts the number of households to increase by 2,000 annually from
2017 to 2021, totalling 10,000 additional dwellings needed on top of current levels to meet the growing demand. In contrast, housing supply has not met government-set targets since 2009, creating a 59% shortfall.
Demand for property remains strong, with 14% price growth since 2015 and a 17.5% house price growth forecast between 2018 and 2021. Rental demand is on the rise too. 66% of city centre homes are privately rented, largely driven by the growing number of young professionals and students moving to the city. The forecast for rental price growth in Liverpool is 14.7% between 2018 and 2021.
Despite Liverpool’s growing economy and the significant regeneration investment currently underway, property prices are still very affordable, particularly when compared to other prime city centre locations further south. There is also room for future growth – the average house price is still 7% below the market’s pre-recession peak, making it an ideal time to invest in the UK’s cultural capital.