LCVS buys Stanley House

Liverpool Charity and Voluntary Services has bought the 42,000 sq ft Stanley House building in Dale Street, Liverpool city centre, from Genting Stanley.

In a deal worth £5m, LCVS said it made the acquisition as part of a long-term strategy to support Liverpool's charity and voluntary sector.

Alan Lewis, chief executive at LCVS, said: "Many of our local charities and voluntary groups are paying commercial rents, which with Liverpool's regeneration can be really expensive, especially when they cannot recover VAT. We need them to stay in the city centre and this development helps by providing affordable rents and shared office services."

Rob Dawson, senior corporate manager at The Co-operative Bank, who part funded the multi-million pound deal, said: "The Bank has always had a strong presence in the charity sector which has a natural fit with our ethical stance. We've been able to combine this expertise with the work undertaken by the property finance team to support LCVS. The new premises will give a real boost to Liverpool's charities and community groups in Liverpool."

Mason Owen acted as agents on behalf of Genting Stanley, while Hill Dickinson, CB Richard Ellis, and Baker Tilly all acted on behalf of LCVS.

Following the deal, Mason Owen was retained by LCVS.