Infinity brings Albany space back to market
Agents Tushingham Moore and Edward Symmons have been appointed to market 17,000 sq ft of commercial space at the Albany Building fronting Old Hall Street in Liverpool city centre.
Last summer, Manchester-based private equity fund and property finance firm Infinity Asset Management in a joint venture partnership with 53N bought the property for an undisclosed sum and has invested a further £1m into improving the building.
Liam MacCarthy, property associate at Infinity, said: "We appointed Tushingham Moore and Edward Symmons last month and the marketing of the space is well underway. We've had a few people show some interest. The whole space is available or it can lend itself to be broken up into two units."
The commercial space is located on the lower ground floor and is split in two with one unit on the Ormond Street side of the building comprising 10,120 sq ft and another unit of 7,210 sq ft on the George Street side.
Part of the space was used as a restaurant by previous owner Albany Assets which converted the upper floors of the former cotton warehouse into apartments before going into administration following the collapse of the residential property market.
Infinity Albany bought 69 of the 123 apartments at the Albany building with the remaining flats already let on long leases.
MacCarthy added: "We had a discussion before Christmas and are putting together a sales and marketing strategy for the apartments. No agents have been appointed to sell these yet. The next stage of work is the entrance area for the concierge and we're looking at submitting a planning application for this within the first quarter of the year."
MacCarthy said the company plans to sell all of the 69 apartments with prices being offered from £135,000 for a two bedroom apartment and £105,000 for a one bedroom apartment.
Liverpool-based Brock Carmichael Architects is working with Infinity Albany on the building and consultancy Edmund Kirby is the managing agent.
Both leasehold and freehold deals are being invited on the commercial space.