Investment planned as Oriel Chambers changes hands
Yakel Property Investment has bought the grade one-listed building in Liverpool from Bruntwood with a series of interventions planned to improve the historic building’s office offering.
Yakel has bought the property from Bruntwood for an undisclosed sum and has retained CBRE to advise on the future of the building.
Oriel Chambers is home to 30 businesses and is 75% occupied; one of its primary tenants is Oriel Barristers Chambers, which has been in the building since 1965. Suites in the building range from 6,000 sq ft to 138 sq ft. Bruntwood had carried out a series of renovations to the building prior to its sale, working with architect MgMa Studio.
Future interventions will include the addition of superfast broadband, the repurposing of Oriel Close, and adding a ground floor offering to the building’s tenants.
Yakel, which is based in Liverpool according to Companies House, was advised by Kuits on its purchase.
Samuel Farage, managing director of Yakel, said: “Oriel Chambers is one of the finest office addresses in Liverpool and we are delighted to take over stewardship of such an historic hub for business. We will harness the expertise of the team at CBRE to help us realise our future plans for this important office building moving forwards.
“The team at Kuits provided key legal expertise throughout the transaction, demonstrating experience, knowledge and commercial acumen to help us with this unique acquisition.”
Andrew Byrne, associate director at CBRE Liverpool, said; “We are delighted to work with Yakel following the recent purchase of Oriel Chambers to safeguard the future of this unique office building, which couldn’t be better placed to access all Liverpool has to offer and will attract a number of businesses across a range of sectors. Its flexible offer is suitable for occupiers ranging from start-ups to growing businesses.
“The grade one-listed property lies between the grandeur of Water Street’s two other famous landmarks – Liverpool Town Hall and the Royal Liver Building – and is within walking distance of Liverpool’s iconic waterfront. It is a uniquely both historic and contemporary destination for businesses.”