Corestate Capital, the listed European firm, has selected an agent to sell the Royal Liver Building in Liverpool.
The iconic building has only ever been sold once before.
CBRE has been selected to market the asset with a guide price of £90 mln (€107 mln) having advised previously when UK fund, Royal London, first offloaded it, in 2017.
Over the last five years, the Grade I listed Royal Liver Building, has undergone an extensive refurbishment programme to deliver Liverpool’s best office building with outstanding tenant facilities and amenity. The property is multi-let to several major Liverpool based companies including Princes Foods, HSBC, Mott MacDonald, Grant Thornton and Everton Football Club.
The building also has its own visitor attraction centre ,RLB 360 Tower Tour.
Designed by Walter Aubrey Thomas, the building first opened in July 1911 and on completion was the tallest office building in Europe. It forms the centre piece of the city’s famous waterfront, with significant new regeneration planned including Everton Football Club’s new stadium due to complete in 2024.
Colin Thomasson, executive director, investment properties, at CBRE 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.’
The asset has potential to be upgraded. ‘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,’ added Thomasson.
