Liverpool’s Royal Albert Dock up for sale for £50m
CBRE Investment Management has appointed London-based agency Joiner Cummings to sell the 375,295 sq ft mixed-use development.
Liverpool’s Royal Albert Dock is being marketed with a guide price of £49.25m. This reflects a triple net yield of 6.5%, according to marketing materials.
The scheme is made up of four grade one listed buildings, Britannia Pavilion, The Colonnades, Atlantic Pavilion and Edward Pavilion.
Royal Albert Dock is let to 56 tenants and generates £3.6m in rent annually.
The scheme’s two hotels, Premier Inn and Holiday Inn, account for around 30% of this income, while food and drink operators pull in almost half of the total revenue.
Other tenants at Royal Albert Dock include The Beatles Story museum and various restaurants and bars.
CBRE IM declined to comment. Joiner Cummings was contacted for comment.
Royal Albert Dock was originally designed as a warehouse complex by Jesse Hartley and Philip Hardwick and opened in 1846.
In the 1980s the complex was redeveloped into a mixed-use scheme by the Merseyside Development Corporation and, prior to the pandemic, attracted more than 6m visitors a year.
That seems a bargain, does it include the Maritime Museum and the Tate Gallery, it`s very popular down there, even more so since Liverpool One was opened.
By Anonymous
I agree it seems cheap! Could do so much more with it and make it as busy as it once was! Its a fabulous place – something about being near the water!
By Mary Smiley
I don’t think it seems cheap I like Old buildings. I know underinvestment has hit Liverpool hard but not here surely?
By Anonymous
£49m and 6.5% not bad but let’s be honest, would achieve a lot more elsewhere .
By Jeffery
Are they going to put more Liverpool office’s in there!
By Mary Woolley
No other city in the UK as anything as beautiful as the albert dock,
By Anonymous
Didn’t they used to do TV shows from here? I seem to remember a weather man. Always seems so under utilised now. Needs media companies again something with a bit of today about it.
By Anonymous
As a student at Leeds School of Architecture in the 1960s I went with my fellow students to draw these buildings as they were about to be demolished. So pleased they are still with us and being used and loved.
By Anonymous
Glad they’ve been saved. Hope they find a good use for them ultimately. Flats or offices maybe?
By Anonymous
No other city in the world is as beautiful as Liverpool Dock! The beauty is profound and world leading!
By Anon 2
Offices are needed not old buildings. Let’s concentrate on that.
By Dan
Albert Dock is beautiful but under utilised and sadly a bit dull.
By Anonymous
The Royal Albert dock was saved by Michael Heseltine. It was going to be demolished until he stepped up and saved it.
By Anonymous
Beautiful
By Anonymous
Yes Heseltine was the only one who ever did anything for Liverpool. It’s a real struggle when you have no real advocates in Government.
By Anonymous
I agree it’s always seemed so under used. Modern Broadcast media companies or some of the high tech giants like Google and Amazon should have set up there but they’re all based in Manchester, Leeds or London now. Shame.
By Danielle
I see a number of comments on here saying the place is underused, but that gives a false impression as the place has many restaurants and bars which are often full or well patronised at lunchtime and evenings, of course there will be days or times of the day when footfall is low but plenty of people and tourists use this place,
By Anonymous
Royal Albert Dock Liverpool is thriving
How do i know this ? my office is there !!!!!
By Anonymous
It’s about something in Liverpool, so naturally there are snarky comments in the PNW comments section. It goes hand in hand!!
Would it achieve more elsewhere? Only in London, but then costs are higher there too.
And these four Grade I listed buildings (out of dozens in the city) aren’t elsewhere. They’re in Liverpool. Where most of the listed buildings are.
By Jeff
This is being sold off on the cheap at much the same price as a decent premier league footballer. Why so cheap?
By Anonymous