Movement on Martins Bank as fresh plans lodged
After work to convert the historic building on Liverpool’s Water Street into offices was paused in 2024, developer Karrev has nudged the scheme towards a restart with a series of design amendments.
Karrev has submitted revised proposals to convert the long-vacant Martins Bank Building to Liverpool City Council. The updated plans retain the ambition for 140,000 sq ft of offices with a ground floor restaurant in the former banking hall and propose changes to ensure the building is “better suited to the modern way of working [and] is attractive to future tenants”, according to planning documents.
Architect Brock Carmichael and planner Pegasus are supporting the landlord on updating the vision for the building after planning permission for its redevelopment was secured in 2022.
The amendments constitute a “comprehensive design evolution” and relate to floor layouts, fire safety, and sustainability, according to planning documents. Learn more by searching for reference numbers 26F/2862 and 26L/2863 on Liverpool City Council’s planning portal.
Speaking to Place North West in March, Karrev managing director Julien Buronfosse said the plan was to be on site this year and complete work by 2028.
This remains the aim, but with no contractor locked in, Karrev is up against it to begin work before 2026 turns into 2027.
One thing the investor has on its side is the fact that the building is in a state that would allow for work to start immediately after the removal of a significant amount of asbestos, Buronfosse has previously said.
Designed by Herbert James Rowse, Martins Bank opened in 1932 but had been empty for more than a decade when Karrev took ownership in 2021, working at the time with developer partner Kinrise.
Prior to Karrev’s £11.5m purchase, Martins Bank had been the subject of two failed attempts to transform the space into a hotel.
But the Karrev/Kinrise offices scheme appeared to have traction and generated excitement in a city crying out for an injection of Grade A office space to support economic growth.
Liverpool City Council approved the duo’s plans in 2022 and Lendlease was brought on board as the main contractor. Karrev parted ways with Kinrise and Lendlease in 2024 and shifted its focus to another office project: Sunlight House in Manchester.
With that scheme complete and letting well, attention is now turning back to Martins Bank. The project was given a boost in May when it was unveiled as one of the first to benefit from investment from a £2bn Liverpool City Region fund.
Karrev was approached for comment.
