Cavern Walks fetches more than £4m

The freehold of Cavern Walks Shopping Centre in Liverpool's Mathew Street has been sold for £4.125m to an undisclosed buyer.

The 10-storey building, containing 23 shops, 80,000 sq ft of offices and the famous Cavern Club basement bar and nightclub, had a guide price of £1.1m. Tenants include Vivienne Westwood, Cricket and Stonegate Pub Co. The upper floors contain 80,088 sq ft of office accommodation.

The building was sold at Allsop's commercial auction on Wednesday in London.

The new owner may consider alternative uses for the upper floors from first to sixth which Direct Line will vacate over the next 12 to 18 months.

Allsop & GCW were joint agents on behalf of Joint Administrative Receivers, Philip Stephen Bowers and Neville Barry Kahn of Deloitte LLP, who were appointed administrators of Cavern Walks' owner, Warner Estate Holdings, in August.

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