Downing continues disposal drive

Downing has put the 90,000 sq ft Graeme House in Liverpool city centre on the market for £8m.

The company has appointed CBRE to market the building, which is located on Derby Square directly between the Liverpool ONE retail and leisure complex, Queen Elizabeth II Law Courts and Castle Street.

A sale at £8m would reflect a net initial yield of 10.80%.

Downing recently completed a refurbishment of Graeme House, which includes 32,249 sq ft of flexible office space. Current tenants include recruitment companies Reed and Blue Arrow, and national training provider Aspire Achieve Advance, Work Solutions, Ingeus, and Remploy.

Earlier this year Downing appointed DTZ to sell the 160,000 sq ft Port of Liverpool Building at the Pier Head, and Worthington Owen to sell Federation House in Hope Street.

Colin Thomasson, senior director at CBRE, said: “Graeme House is a high-quality, recently refurbished building in a truly enviable location, right in the heart of the city between the bustling business district and the popular Liverpool ONE complex. The building also benefits from great transport rail and bus links.  Downing has done a great job on the refurbishment of the building, and the development has proved incredibly popular with occupiers.”