Case Study: Liverpool One Redevelopment
Liverpool One Redevelopment Scheme
Roger Hannah and Co represented Clear Channel UK Limited who were affected by Grosvenor's plans to redevelop Liverpool City Centre in a scheme known as 'Liverpool One.'
The £1 billion plus development included 0.33 acres of land in the freehold ownership of Clear Channel UK Limited. CCUK Ltd used the site for advertising with 10 hoardings erected around the perimeter of the site.
Grosvenor submitted an offer for the site of £400,000. Despite the site's location in Liverpool City Centre they argued that the land had no development value as the planning policies surrounding the development meant that any development had to be comprehensive ie excluding development of a small site.
We claimed compensation of £2 million and engaged in a prolonged dispute with Grosvenor and their representatives to achieve a fair value for our client. We supported our claim based on both advertising value and development value.
A key part of our negotiations was to contend for development values by disproving the argument relating to comprehensive development. In addition, we needed to prove development value. We engaged the services of planners, transportation engineers and architects to develop a hypothetical scheme of multi storey residential apartments with ground floor commercial use.
After 4 years of protracted dispute we settled the claim at £1.4 million providing our client with fair compensation.