Liverpool’s India Buildings changes hands

Prized Liverpool city centre office asset, India Building, has been sold as part of a portfolio by its Greek shipping magnate owner.

An undisclosed private investor has bought the 350,000 sq ft office on Water Street from Branchtown, an offshore investment vehicle based in the British Virgin Islands.

Branchtown is controlled by a secretive Greek shipping tycoon who acquired India Buildings in 2004 for £45m, then a record property transaction in Liverpool.

Investment agents in the city said this week that India Buildings would be worth around £30m in today's market.

The price of the overall portfolio sold has not been disclosed but is believed to include more than 50 assets, mainly in London.

India Buildings is multilet with a wide range of tenants including lawyers Weightmans and DLA.

The grand 1930s building was built on the site of the offices of the East India Company, a stalwart of the British Empire.

All parties declined to comment.