A derelict block of flats has been put on the market for £3m after standing empty for years.

Charter House, between Church Street and Union Street in Egremont, Wallasey, is advertised on Rightmove as an "opportunity to develop a high yielding residential investment." The high-rise block of 42 two-bedroom flats was once owned by Wirral-based housing association Magenta Living, but it was closed in 2008 after it was deemed "not financially viable".

Magenta sought planning permission to have the building demolished in 2016, but it was instead purchased by Camco Estates Ltd, which promised a “sensitive” refurbishment “respecting the original design intent, whilst at the same time bringing the building into the 21st century”.

Developers spent more than £1m upgrading the tower in 2018 in the wake of the tragic Grenfell disaster the year before. It was said at the time that the newly-transformed apartments would be finished that year with residents moving in shortly after.

However, after £4m was spent on the project, work appeared to stop, and the building has remained empty ever since. According to Companies House, Camco Estates Ltd has since gone into liquidation and director Arthur Morgan stepped down in October 2020.

People living in the shadow of the abandoned flat block called it "an eyesore", and feared its imposing presence would have a knock-on effect on surrounding house prices. Now hope could lie on the horizon for those residents living nearby, as Liverpool-based Lyons Estates hopes to sell the tower block for £3m.

Property information on the agent's website reads: "The property comprises a part-complete residential refurbishment configured over 10 storeys. The development consists of 42 apartments with 4 apartments on each floor, with the exception of the ground floor which has 2 apartments.

"Each apartment comprises separate lounge, kitchen, bathroom and two bedrooms and range in size between 755 sq ft to 818 sq ft. The apartments are generally at first and second fix and adapt a similar design and layout throughout.

"Most apartments also benefit from private balconies with most apartments on the upper floors offering views of the River Mersey and Liverpool city centre. A central core incorporates a passenger lift with access to each floor together with stairwell access and a reception area on the ground floor."