Beatles ballroom transformed to prime Liverpool residential apartments

Posted 22 July 2016 by Ben Salisbury

A historic Liverpool building is undergoing a transformation into a collection of new homes for owner-occupiers and investors...

A gem of a building from Liverpool’s cultural history is being transformed into modern apartments. The restoration of this building in Liverpool’s city centre will see it become Parker Street Residences when construction is completed in June 2017, transforming the now disused commercial property into residential apartments.

Reece’s Ballroom was the pinnacle of Reece & Son’s group of café’s and included a dancehall, café and a restaurant where the social swingers of the 1960’s gathered to dine and dance the night away.

It even hosted Beatles frontman, John Lennon’s wedding reception when he married Cynthia Powell, his first wife and mother to John’s son, Julian Lennon.

Construction started this month on the development which will offer residents spacious apartments with 24/7 on-site concierge service, security, bicycle storage and gym membership.

The apartments are targeted at a new generation, with recent research by Centre for Cities highlighting that more than 50% of people living in the city centre are aged 22-29.

The Local Enterprise Partnership says the Liverpool City region has an economy worth £23.1bn annually and the thriving economy has caused an influx of young professionals looking to live in the city centre.

With prices starting from £69,950 for studios the development also represents an investment opportunity with anticipated yields of 8% net.

"It's fantastic to see work beginning at Parker Street Residences,” said Ray Withers, CEO of Property Frontiers.

“This building has such a rich history and I'm delighted to see this new chapter in its story getting underway. Properties like this in such a central location are few and far between and we've already seen an exceptional level of demand for the apartments."

Initially soft strip works has begun with the demolition and structural alterations of the building starting in early August. This is followed by steelwork and a new roof structure in September and then replacement windows.

All seven levels are expected to be finished by April 2017 and then the internal fit out works will take place and be completed by June 2017 with overall completion set for August 2017 when the first tenants will move in.

 

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