Schroders to invest £1m in Church St block

LANDLORD Schroders is planning a £1m refurb at 88-94 Church Street in Liverpool.

It has just agreed a 10-year lease with Lloyds Bank for the basement, ground and first floors for £350,000 a year.

The whole property was previously let to Lloyds at £664,000 a year on a lease expiring in December.

In a stock market announcement Schroders said it would invest £1m improving the second to seventh floors and seek to re-let them.

The London-based group, which owns Manchester’s City Tower, said these floors were currently let at £73,000 a year and had a total rental value of £152,000.