Liverpool’s historic Royal Liver Building has been put up for sale.
A £90m price tag has been placed on the iconic waterfront building, one of the city’s Three Graces. It became jointly owned by Everton majority shareholder Farhad Moshiri after being acquired by international property group Corestate in 2017 for £48m.
It is only the second time the building has been put up for sale in its 111-year history after the building was previously sold by Royal London. Weeks after the 2017 deal went through, the Liverpool ECHO revealed Mr Moshiri was Corestate’s partner in the deal.
READ MORE:What sale of the Royal Liver Building means for Everton
Global real estate advisor CBRE, which was involved in the previous sale, has been re-appointed to market the building, reports BusinessLive. The grade I-listed property is multi-let to major companies including Princes Foods, HSBC, Mott MacDonald, Grant Thornton and Everton Football Club.
It has also recently featured in blockbuster The Batman, which used the building alongside other Liverpool landmarks to create the fictional Gotham City.
Colin Thomasson, CBRE executive director for investment properties, said: “We are truly honoured to be mandated to sell the Royal Liver Building, the most recognisable office building in the North of England and an icon on the global stage. It is an exceptional investment opportunity which offers investors the chance to not only own a piece of history but also a property with considerable potential to add further value and continue the refurbishment programme the current owners have already executed.
“With Grade A office supply in Liverpool currently at an all time low and rising occupier demand, we anticipate strong demand amongst investors for the asset.”
Designed by Walter Aubrey Thomas, the building first opened in July 1911 and on completion was the tallest office building in Europe.
Speaking to the ECHO in 2017, Mr Moshiri said: “I am delighted to have jointly acquired the Royal Liver Building, which is a world-class property in a bustling riverfront location. Following my investment in Everton last year, I am confident in the prospects for Liverpool as a thriving international city and am pleased that I have been able to make this investment in such a landmark building with potential for further improvement.”
Speaking to the ECHO in February that year to announce the deal, Corestate founder Thomas Landschreiber described the building as “crazy and unique”.
He added: “The next step is to invest money and get tenants for the vacant space where we see a huge opportunity for Liverpool at the moment.”
Mr Moshiri hit the headlines in recent days after he and Everton chairman Bill Kenwright matched the Premier League club’s £250,000 donation to support the humanitarian fundraising effort for those affected by Russia’s invasion of Ukraine. In January he invested a further £100m in Everton, a move which saw him acquire an additional 33,333 shares in the club, through Blue Haven Holdings Limited. The deal took his shareholding to 94.1%.
The ECHO has contacted CBRE and Everton FC for any further details about what the deal could mean for Mr Moshiri’s investment.
Credit: Source link
