Atlantic Pavilion, Liverpool, P.Google Earth 0

The building had been on the market since 2022. Credit: Google Earth

Acorn Group acquires Liverpool’s Atlantic Pavilion 

The Formby-based insurance firm has agreed a deal with Lumezia for the 80,000 sq ft Royal Albert Dock building.

Acorn Group has bought Atlantic Pavilion for an undisclosed sum and is understood to be planning to occupy vacant space within the building.

The acquisition sees Acorn Group add to a growing portfolio of Liverpool assets. The company already owns Mersey Chambers and 12 Hanover Street, as well as The Lighthouse in Formby.

Danny Keating, Acorn Group chief operating officer, said: “As a growing business the acquisition of Atlantic Pavilion provides premium office space in the heart of the city, adding to our already extensive heritage estate.

“But this is much more than just an office, it’s part of the heritage and foundations of the city which we’re very proud to call our own. We are a local business, employing over 1000 people from across the region and are passionate about investing in the city and communities in which we operate.”

Mike Lloyd, Acorn Group chief executive, added: “Investing in this iconic landmark represents an exciting milestone for Acorn.

“We are a growing, ambitious, and dynamic Merseyside-based business. As a major employer in the region, it’s vital to provide exceptional office space that supports our people while continuing our strong commitment to this great city we call home.

“By choosing Atlantic Pavilion, we’re embracing the history and character of the space while integrating Acorn’s modern working practices. It’s the perfect environment to inspire our people, nurture Acorn’s unique culture, and drive ongoing success.”

The building is largely vacant at present. Shop Direct Holdings, which once occupied it in its entirety exited in 2023 and Avalanche Studios vacated 12,000 sq ft it was subletting from Shop Direct to move into Liverpool’s central business district last year.

Plus Dane signed a 10-year lease for 17,000 sq ft on the second floor in 2023.

CBRE was appointed to market the asset’s long leasehold for sale in 2022, setting a guide price of £8.4m. The following year, the asking price was cut by £1.5m to £6.9m.

Lumezia purchased Atlantic Pavilion in June 2018 for £10.75m.

The Atlantic Pavilion sits on the historic Royal Albert Dock. It was constructed as a warehouse in 1846, before being converted into offices in 1992.

The 999-year leasehold, which started in October 1985, also includes 21 car parking spaces, and the right to park at another 49 spaces in the King’s Waterfront area.

Fabrix has managed the seven-floor office building since 2019 on behalf of owner Blend Property, which acquired the docks in 2018 for around £10.8m according to HM Land Registry data.

Your Comments

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If you want to know how much someone paid for a property, just check the Land Registry website. This is public information. One thing the UK got right.

By Anonymous

    Hi Anonymous. We always endeavour to find out how much buildings sell for. However, Land Registry can take months to be updated so the information is not available until way after a transaction has completed. Best wishes, Dan

    By Dan Whelan

Acorn one of the largest and fastest growing firms in central Liverpool it seems. LCR/LCC should do more to promote them and their local investments. You wonder if the authorities even know they exist.

By ST

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