Cavern Walks up for auction with £1m guide price

Simon Donohue

Liverpool's Cavern Walks Shopping Centre is to be sold at auction in October with a guide price of £1m.

The Mathew Street site comprises 23 shops, 80,000 sq ft of office space and a replica of the famous Cavern Club where The Beatles used to play.

It is being sold by Allsop auctioneers on the instructions of joint administrative receivers, Philip Stephen Bowers and Neville Barry Kahn, of Deloitte.

Previous owner, London-based Warner Estate Holdings, went into administration last month.

The site generates a total current rent of £1.1m a year from occupiers including Vivienne Westwood, Cricket, The Cavern Club and Stonegate Pub Company.

It has 23,904 sq ft of vacant offices and four vacant retail units. More space will become vacant following the relocation of Direct Line, with a potential change of use to student accommodation one suggestion.

The auction will take place at The Park Lane Hotel, Piccadilly, London, on Wednesday 16 October.

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