Downing continues office disposals with £2.25m sale

Downing has offloaded Federation House in Hope Street, Liverpool, to Robert Smith Group for the asking price of £2.25m.

The fully let 21,000 sq ft building has five floors of offices, let to Liverpool Media Academy, above two restaurants, occupied by Ego Restaurants and Moose Coffee.

The building’s distinctive faux-Aztec cladding was designed by William Mitchell, who also designed the Metropolitan Cathedral’s bell-tower and main doors.

The Federation House deal represents another recent sale of property for Downing in Liverpool, following the disposal of the 160,000 sq ft Port of Liverpool Building at Pier Head for around £27m in November last year.

Downing’s 90,000 sq ft Graeme House is also currently on the market for £8m.

Worthington Owen advised Downing, while Hatrick Property and Matthews & Goodman acted for Robert Smith Group.

John Clegg, head of property management at Downing, said: “We’re pleased to complete the sale of what is one of the most iconic buildings in Liverpool’s Canning Street Conservation area. The improvements and refurbishments Downing has made to the property means that the new owners are inheriting a building which is in excellent condition and fully let to a great blend of tenants. It represents yet another example of Downing successfully overseeing the renovation and sale of a landmark structure in the city.”