Property company Glenbrook has completed the investment acquisition of a mixed-use scheme in Liverpool ONE from Grosvenor, in a deal worth £5m.
Known as The Beat, the 40,000 sq ft leisure and office building is situated on the corner of Hanover and Seel Street. The block is fully let to occupiers including Liverpool Community NHS Trust, the city’s largest restaurant Taipan and Clydesdale Bank.
The development has been bought in conjunction with a private investor client and marks the first acquisition for Glenbrook in this new area of its business.
Guy Butler, director at Glenbrook, said: “The Beat is an attractive investment proposition in an exciting location and will continue to benefit from the ongoing success of Liverpool One and the increasing demand for the City as a premier retail and leisure destination.
“Co-investing with partners who want exposure to the property sector as part of a balanced portfolio is a key growth area of the business and we are currently seeking further investment opportunities with long-term asset management and development potential.”
Butler was formerly a projects director at Grosvenor for 15 years and left in 2014 to establish Glenbrook.
Glenbrook was unrepresented.
Savills acted on behalf of Grosvenor.