Prime city centre building sold to aparthotel specialist for £5.5m

PRIME Liverpool city centre building Silkhouse Court has been sold to aparthotel specialist Signature Living and Fortis Developments in a deal worth £5.5m

Chantry Co Investments, care of Commercial Estates Group, has sold the property, regarded as one of the city’s premier business addresses.

The 120,000 sq ft, 16-storey office scheme occupies a prominent position on Tithebarn Street in the heart of the central business district.

Fortis Developments and Signature Living have recently submitted a permitted development right application for change of use to residential.

Brian Ricketts, partner and head of office agency, at Hitchcock Wright & Partners, which acted on behalf of CEG, said: “This disposal follows on from CEG’s acquisition of Exchange Station in March this year and marks an ongoing realignment of the company’s investment portfolio in the city.

“CEG is a committed investor in Merseyside and is actively seeking new investment opportunities to further increase its foothold in the region.”

Ian Steele, director, office agency, Bilfinger GVA, which advised the purchaser, said: “Given its location, size and layout, Silkhouse Court represented one of the best remaining opportunities in the city to acquire an existing office building for conversion to residential use.

“The dynamics of the city centre are constantly changing with a large number of office buildings being sold in the traditional core and commercial district for alternative purpose and this sale marks a logical step in the continued evolution of the city.”