Grosvenor seeks further receipts from Liverpool One sales

Grosvenor is in advanced talks over the sale of another plot at its Liverpool One retail-led regeneration project.

The sale involves a multi-storey car park with ground floor retail on the corner of Hanover Street and Seel Street along with a surface car park to the rear.

The combined area is around 1.5 acres and the buyer is a developer who will demolish the car park and deliver a mixed-use leisure-led project in its place. Grosvenor expects to announce the deal in the coming few weeks, with the buyer due on site by December 2008.

The site is adjacent to the Novotel hotel being built by Pedersen following a similar sale. The partial disposal programme was always part of Grosvenor's vision for Liverpool One, the company said, and is not a response to the £140m cost over-run announced in the past year.

Grosvenor has also mooted the possibility of selling the so-called Bling Bling Building partly occupied by Herbert of Liverpool, the hairdresser. The Piers Gough-designed building, also on Hanover Street, features 20,000 sq ft over five floors. Herbert occupies two floors and there are three vacant floors of offices above.

In September, Grosvenor confirmed the sale of the 217-bed Hilton Hotel, currently under construction, on the southern edge of Chavasse Park for £60m to Andreas Panayiatou's Ability Group.

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