Cert on the up with Elevator Studios buy
The developer has acquired the 90,000 sq ft Elevator Studios, a hub for creative start-ups in Liverpool’s Baltic Triangle, for an undisclosed sum.
Cert Property bought the building from brothers Tim and Paul Speed, who acquired and developed Elevator Studios in 2007.
The property, located on Parliament Street, is made up of four grade two-listed warehouses previously used to store cotton, spices and coffee.
The warehouses are split into smaller units ranging in size from 200 sq ft to 3,000 sq ft.
In total, the complex provides 79 offices and studios fully let to a broad range of occupiers including games developer Lucid Games and the Baltic Social bar.
Elevator Studios has hosted several well-known bands and musicians including Echo and the Bunnymen, Miles Kane and The Night Café.
Tim Speed said: “The original plan was to take these buildings that were once filled with goods from the port, and fill them with businesses and companies with fantastic ideas.
“It’s been great to have played a small part in the regeneration and reinvention of the City of Liverpool and in particular the Baltic Triangle in recent years.”
Howard Lord, managing director of Cert Property, added: “Elevator Studios is a perfect fit for our philosophy of investing not just in commercial spaces but communities.
“The building has already got an amazing energy and an established community of creative businesses based there that have grown from start-ups to mature businesses. We plan to work with current tenants to make the building an even better place to work & create.”
Worthington Owen was the agent on the deal.
Last year, Cert bought the former Bibby Line Group headquarters on Duke Street in the Ropewalks area of Liverpool and plans to redevelop the building into a hub for technology businesses.