Watling Real Estate’s sale of shopping centre site will boost Huyton redevelopment plans

Watling Real Estate has brokered the sale of part of the 100,000 sq ft Cavendish Walk shopping centre in Huyton in Merseyside to Knowsley Council.

The acquisition, for an undisclosed sum, amounts to approximately one third of the scheme and forms part of Knowsley Council’s masterplan for Huyton village centre in conjunction with appointed development partner Genr8 Kajima Regeneration.

Director Chris Walker and managing director Andrew Foster of Watling Real Estate were appointed Law of Property Act (LPA) Receivers.

Chris Walker said: “Knowsley Council has an ambitious ten year development plan for Huyton village centre and the sale of this part of Cavendish Walk is an important piece of the jigsaw.

“We were pleased to come to an off-market agreement with Knowsley Council that enables it to take a step further along the road toward delivery its strategic vision for the village centre.”

The plan includes a new mixed-use commercial district which could include a hotel, office space anchored by the Local Authority, co-working centres and residential accommodation. It is estimated the proposed redevelopment could  up to 1,700 new jobs and inject a £50 million annual spending boost into the local economy.

Knowsley Council’s in-house legal team acted for the buyer and Managing Associate Natalie Bromley of law firm Addleshaw Goddard’s Manchester office advised the Receivers.

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For further information, please contact:

Chris Walker, Director, Watling Real Estate, 125 Deansgate, Deansgate, Manchester, M3 2BY

chris.walker@watling.com

Issued by ASAP PR – 07990 978257

Editors’ Notes

Watling Real Estate was created on 1 June 2023 by a management buyout of the real estate restructuring division of Avison Young. The business is headquartered in London with a network of offices in Birmingham, Manchester, Leeds and Bristol, providing national coverage with the benefit of local and regional expertise.  It has a team of 20+ professionals offering a multi-disciplinary real estate advisory business and will immediately become one of the UK’s largest real estate restructuring consultancies.

The team, originally part of the GVA business and more recently Avison Young post-merger in 2019, is one of the most highly regarded and experienced real estate advisors operating within the restructuring and recovery marketplace. Over the past decade, the team has advised or transacted on real estate with a total value of over £11 billion, having worked on some of the most significant real estate restructuring projects in the UK.

Watling Real Estate is backed by Bassi Capital, a private family office with extensive core investments in the real estate sector including publicly listed companies, private limited companies, and joint partnerships. https://bassicapital.com/