Charity seeks £3m for Liverpool HQ
Liverpool Charity and Voluntary Services is selling 151 Dale Street, which offers the potential for vacant possession in the short term.
LCVS has appointed agency Fisher German to market the 38,000 sq ft Liverpool office building for sale at a £3m guide price.
Located at the top of Dale Street and the corner of Fontenoy Street, the building generates £198,000 a year in rent and has an estimated rental value of £445,000, reflecting a reversionary yield of 13.94%, according to Fisher German.
LCVS bought 151 Dale Street for £4.8m in 2008 and occupies just shy of 7,000 sq ft. Overall, the building is less than half full and offers asset management potential.
Adam Fleming, senior surveyor at Fisher German, said: “Opportunities to acquire a building of this scale and character in such a central Liverpool location are few and far between. There is a real sense of presence about the property that you simply cannot replicate with modern development.
“The property also offers a lot of flexibility. Whether an investor is looking to enhance the existing income profile or explore a wider repositioning, there is a huge amount of potential to unlock here. It is an exciting moment to bring something like this to the market.”
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Prediction – someone like CERT will buy it and do office to resi permitted development conversion.
By Anonymous
Another office to apartments conversion incoming
By Anonymous
Purchased for £4.8m but then up for sale 18 years later at only £3m isn’t a good look.
This is a fine looking building which is probably in need of a refurb, and needs to remain as offices.
By Anonymous
If LCC is serious about protecting office space in the city, they need to slap an Article 4 Direction on this building (and perhaps with wider CBD) to remove permitted development rights for office to resi conversions. Sadly, they’re too busy fighting HMOs…
By Anonymous
Please not another rubbish office-to-resi conversion under permitted development rights.
This is a top quality building in a good location, and it’s increasingly bizarre LCC seems to have no interest in protecting what’s left of the Commercial District when an Article 4 Direction isn’t remotely complicated.
Is eliminating all other office space a cunning plan to get Pall Mall off the ground?
By Town Clerk
LCC need to do everything possible to keep this as an office building. Beautiful building.
By Mr Optimistic
Boutique hotel for the girls please
By Anonymous
Certainly says a lot about “charity management. A person wonders what are the ” management team ” salaries” and how much much actually goes to the relief of the benefit recipients.. it is a beautiful building and would provide excellent development opportunities for either flats or hotel. This area is now a quiet backwater, that is actually well connected to bus and rail stations and central shopping area . A person of foresight could make a successful investment.
By Anonymous
Built as HQ of the Blackburn Assurance Company (back when the city was a major finance and insurance centre), housed the Liverpool City Council Architects & Surveyors Dept for many years, and then got a major refurb to become HQ of Stanley Leisure (bookies and casinos), all before LCVS took over.
Bit of a history of company HQs and jobs disappearing from Liverpool after mergers and takeovers, but an eminently reusable building for something other than shoebox flats or over reliance for Beatles’n’Booze tourism.
By Anonymous
See another hotel coming 🤔
By Mark pike
Isn’t this Unity House (as was) A Co-operative Society building which was obviously a department store not offices. We used to go there for Mums divi. The door to the right hand corner as you look at the photo was were the money was given out from behind bars. Next to that was great big hams hanging up in the ceiling, then there were all sorts of linens ready printed for the embroiderer. All these things I remember and the high-light was going to the cafe on the fifth floor, ( the windows set back with the fancy railings) looking out over the city and the nice waitress who always looked after us. Good times.
By Janet Williamson
Sorry, I was wrong, I spoke of this building as being Unity House in a previous comment but that building was demolished in 1966 !
By Janet Williamson
Get a grip Janet
By Anonymous