Landmark office block up for sale for £8m

DEVELOPER Downing has placed Graeme House, its 90,000sq ft Liverpool city centre development, on the market for £8m.

The company has appointed CBRE to market the building on Derby Square directly between the Liverpool ONE retail and leisure complex, Queen Elizabeth II Law Courts and Castle Street.

Downing has recently delivered a complete overhaul and upgrade of Graeme House, which has delivered 32,249sq ft of new flexible office space in the landmark city building.

Current tenants include recruitment companies Reed and Blue Arrow, and national training provider for apprenticeships Aspire Achieve Advance Ltd, Work Solutions, Ingeus, and Remploy.

Colin Thomasson from CBRE said: “Graeme House is a high-quality, recently refurbished building in a truly enviable location, right in the heart of the city between the bustling business district and the popular Liverpool ONE complex.

“The building also benefits from great transport rail and bus links.  Downing has done a great job on the refurbishment of the building, and the development has proved incredibly popular with occupiers.”

John Clegg from Downing, said: “Downing has completely overhauled and upgraded Graeme House over the last two years. The resulting building has become a hub of training, skills and recruitment specialists in the city.

“With the building in great condition and almost fully let, we felt the time was right to see it pass into new hands and look forward to see the building and its tenants continue to thrive under new ownership.”

The £8m asking price reflects a net initial yield of 10.8%.

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