Water Street , Aqua Commercial, p CBRE

CBRE and LBL Real Estate are the joint agents for the grade two-listed Liverpool building. Credit: via CBRE

Liverpool’s 7 Water Street hits market with £7m guide price

Home to steak restaurant Gaucho and aparthotel IStay, the grade two-listed former bank building in the heart of Liverpool city centre has recently been renovated.

Described in the sales brochure as a “trophy asset”, 7 Water Street boasts 30,900 sq ft across five storeys. It is owned by the special purpose vehicle Aqua Commercial. Aqua Commercial counts Anthony Baines as its sole director, according to Companies House.

Aqua Commercial is accepting offers of more than £7m for the building, which reflects a 6% net initial yield after factoring in purchaser costs. This price also equates to a capital value of £226/sq ft.

The building has two entrances, 7 Water Street and 3 Fenwick Street. Gaucho welcomes customers from Water Street, while guests at IStay enter through Fenwick.

The two tenants contribute a total of £450,000 in rent and are on long-term leases. Gaucho’s lease for its 13,500 sq ft space has a little less than 24 years until it expires, while IStay’s lease has roughly 10 years left.

Shaun Skidmore of CBRE and Nick Huddleston of LBL Real Estate are the joint marketing agents for the property.

Skidmore described 7 Water Street’s sale as “a great opportunity to acquire a prime city centre leisure investment in the city’s premium bar restaurant and leisure destination”.

He continued: “It is a substantial grade two former bank building which has recently been restored and fully fitted throughout, with the stunning Gaucho bar restaurant along with Istay aparthotel and offers a hands-off investment.”

Your Comments

Read our comments policy

Lovely building this, and great to see it back in use, wonder why The Ivy didn’t follow through with their plans.
Across the street the refurb of the ex Martin’s Bank building continues, so looking positive.

By Anonymous

Love the way the Tigers’ teeth are still rubbed shiny by passing sailors and visitors – a nod to a great tradition. As for The Ivy, @Anonymous 11:47, all is far from lost if the rumour mill is to be believed…

By Sceptical

Related Articles

Sign up to receive the Place Daily Briefing

Join more than 13,000 property professionals and receive your free daily round-up of built environment news direct to your inbox


Join more than 13,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy.

"*" indicates required fields

Your Job Field*
Other regional Publications - select below