CEG eyes Exchange Station

Commercial Estates Group is understood to be in the lead to buy the 193,000 sq ft Exchange Station office in Liverpool, and has sold 60 Old Hall Street to Signature Living.

Both Exchange Station and Liverpool Innovation Park were former North West Development Agency assets that were acquired by the Homes & Communities Agency in April 2014 following the closure of Space Northwest. At the time, Exchange Station was valued at £13.6m and the Innovation Park at £11.2m.

Around half of Exchange Station is currently vacant. Quoting rent in the office is £15/sq ft.

JLL is marketing the station on behalf of the HCA.

HCA and CEG declined to comment.

Meanwhile, CEG has sold the 50,000 sq ft 60 Old Hall Street to Signature Living for £1.8m.

CEG previously announced plans to refurbish and extend the property to add a further 9,000 sq ft of offices.

Worthington Owen represented Signature Living while WHR Property acted for CEG.

Lawrence Kenwright of Signature Living, said: “We are delighted to acquire this property and are relishing turning it into a premier mixed use scheme in the heart of Liverpool’s Commercial District to add further vibrancy to this already great area. Our plans comprise 93 apartments that will provide a genuine city living offer over two floors of new creative office space and a ground floor commercial unit that we are already in talks to bring a national food store into. We are excited about breathing life back into another building that has lain vacant for some time and are committed to completing the project in 2016.”

CEG is also understood to be selling the 14-storey Silkhouse Court in Tithebarn Street.