Columbia Threadneedle has sold a 117,000 sq ft building in Birkenhead town centre to Gape Equity, which plans to deliver an office-to-residential conversion on the upper floors.
Gape Equity, part of Nottingham-based ALB Investments, bought the mixed-use property on the corner of St John Street and Grange Road for £1.5m.
The block is next to Pyramids Shopping Centre and the Garrick Snug pub, and includes six retail units on the ground floor, three of which are let to Barclays, New Look, and TK Maxx.
Gape is planning to let the remaining vacant units, and convert the first and second floors to 70 one and two-bedroom flats.
Managing director of the company, Arran Bailey, said: “We’re well accustomed to the development of dual-purpose buildings, with residential flats on the upper floors and commercial operations at street level – so this new acquisition in Birkenhead dovetails very nicely with our key area of expertise.
“As the Wirral’s primary town, just a stone’s from Liverpool, Birkenhead has a lot going for it.
“It has all the transport links you could want, allied to lots of footfall for local businesses and plenty of appeal as a place to live.”