Buyer sought for Cavern Walks
Once touted as another large-scale Signature Living hotel scheme, the Liverpool shopping centre is being marketed as a 143,000 sq ft development opportunity.
Acting for LPA receivers, agent HVS Hodges Ward Elliott is inviting offers for the property, billing it as a “rare opportunity to acquire freehold property above the world-renowned Cavern Club, the famous home of the Beatles”.
The building is available freehold with a gross internal area of 142,692 sq ft.
As set out in the particulars, what is offered is the Cavern Walks Shopping Centre and seven floors of vacant office space, with consent in place for hotel or residential conversion.
The shopping centre was built in the 1980s and for a time enjoyed a reputation for high-end clothing boutiques, but in time it lost out to rivals Liverpool One and Metquarter.
With only 10 of its 23 shops occupied, it was bought by Signature Living from Adhan Group in 2018, with the developer announcing plans to turn the upper floors into a hotel and partly infill the centre’s atrium to create further space, plans that were consented in June 2019.
Adhan had itself acquired the building from administrators for £4.1m in 2013. Although work had started on Signature’s conversion, that work only reached very early stages, Place North West understands.
The LPA receivers are Chris Walker and Nathan Pask of Avison Young.
This project needs a quality developer, and maybe a hotel would be the best solution for the upper floors or perhaps even the whole building, with some celebrity restaurant on the lower floors.
By Anonymous
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