Grosvenor sells interest in Hanover Street block

Grosvenor Developments has sold 69 Hanover Street, also known as the Bling Building, to Herbert Howe, owner of Herbert of Liverpool, which occupies part of the building.

Howe already owned half of the building and secured a 250-year lease on the remainder of it after Grosvenor decided to sell their interest for an undisclosed sum. Grosvenor Liverpool Fund, owner of Liverpool One, owns a longer lease and the freehold is Liverpool City Council's.

The 15,685 sq ft building completed in 2008 and was designed by Piers Gough. Russell & Case Jewellers occupy the ground floor, Herbert of Liverpool operate a hair salon from three floors. The fourth floor remains vacant.

Guy Butler, projects director at Grosvenor, said: "We are thrilled to have been able to sell our remaining share in the Bling Building to Herbert. Given the strong interest and association that he has with the building, there is no one else that we would have felt happy selling to. It is fitting that such an iconic building in Liverpool is now solely owned by such a unique and recognisable character."

The deal was completed by DTZ who acted on behalf of Grosvenor.