St. Modwen to dispose of their property holdings in Moor Lane, Crosby Village

St Modwen have appointed agents Lambert Smith Hampton to dispose of their property holding in Moor Lane, Crosby. LSH's marketing brochure for St Modwen's Crosby Moor Lane portfolio is available on the Agent's website.

The site comprises Glenn Buildings (North & South), the Home & Bargains Block, and the Superdrugs block.

The particulars state that "Telegraph House is not included in the sale but the vendor is currently progressing interest with a national discount food store. The site of the cottages is also shown within the curtilage of the Telegraph House site and is hence outside the current disposal offer.

The vendors are seeking offers in excess of £6,380,000 which is quite an uplift on the £2.65m they paid for the entire asset in March 2016.

Bill Esterson MP was reported recently in the Champion and the Echo with St Modwen's asset manager and spoke of the exciting opportunities within the Village. Clearly he was not briefed that St Modwen were now seeking to capitalise on their investment and have no long-term commitment to Crosby, other than selling off the Telegraph House site to a "national discount food store."

It is regrettable that when St Modwen first appeared on the scene that Sefton Council chose not to work with them in partnership, offering the car parks as a dowry within a joint venture. In that way, the Council would have seen an increase in the value of their car parks and could capitalise on the growth as St Modwen are now trying to do with their buildings.

Another lost opportunity by our blinkered Labour council and whose doctrine seems to suppress any willingness to work with the private sector to mutually generate "profit."

Who knows, perhaps Sefton Labour Council will step in and buy the St Modwen site as they did with Bootle Strand. A mere drop in the ocean!