Liverpool’s State House up for auction with £2.5m guide price

Scion Hotels is the majority tenant of the 84,300 sq ft building, which is located at 22 Dale Street in the city centre.

State House comprises a 92-room hotel, six commercial units, six floors of offices, and a 30-space basement car park in Liverpool. There is 37,600 sq ft of vacant space in the building.

Allsop and Moffatt Scott are seeking buyers for the property on behalf of freehold holder District & Urban Investments, with the online-only due to take place on 11 November.

The guide price of £2.5m represents a gross initial yield of 16.05%. State House was priced at £5m the last time the freehold exchanged hands in 2017.

Presently, the property claims £401,100 annually in rent.

In addition to Scion Hotels’ The Z Hotel Liverpool, other tenants include North John Cocktail Company, The Growth Company, Integrity Property Consultants, Shayan Tech, and William Hill.

Reflecting on the upcoming auction, Moffatt Scott co-founder Andrew Scott said: “We are delighted to have been instructed by District & Urban Investments, jointly with Allsop, to bring State House to the market.

“Opportunities like this in such an established location are in short supply, and the building offers a purchaser clear asset management potential through lease regears, letting the vacant space and conversion subject to necessary consents.”