Liverpool John Moores University has won a tender to buy the former Royal Mail Centre on Copperas Hill in the city centre for approximately £2.6m.
Liverpool's former postal sorting office is situated near to Lime Street station and close to the university's existing buildings, including the new Redmonds Building.
The former Royal Mail building extends to approximately 261,655 sq ft over several floors and includes offices, storage and loading area.
The building is located on a 3.48-acre site with the potential to expand further.
LJMU was confirmed as the preferred bidder by DTZ, representing Royal Mail Group on the disposal of Copperas Hill which had a guide price of £3.9m.
Chris Lloyd, associate director at DTZ, said: "Liverpool John Moores University won a competitive tender process against a number of other bidders and have now been selected as the preferred purchaser. It is anticipated that the transfer of the freehold to LJMU from Royal Mail Group will be completed by the end of this week. Other interested parties included local and national developers, reaffirming the building and sites long term regeneration potential particularly given its proximity to Lime Street Station, Central Village and being within the Knowledge Quarter of Liverpool City Centre."
Cllr Malcolm Kennedy, cabinet member for regeneration and transport at Liverpool City Council, said: "The city council has been working extensively over the past year with the former owners, Royal Mail Group, to ensure their premises were passed to a party who would seek to invest in this building , and as such support the council's aspirations for the regeneration of the wider Lime Street / Copperas Hill area.
"The city council considers the involvement of Liverpool John Moores University as an exciting opportunity to work closely with the University on the redevelopment of a key area of the city which provides the important link from the knowledge quarter to the city centre. The building is located adjacent to one of the city's main transport links in Lime Street Station, and the Council considers development of this gateway site as an important component the north eastern area of the city centre, and one that will further support the City's knowledge economy and employment creation."
LJMU said the Copperas Hill move is part of a ten year campus development plan. In the summer of 2012, the school of business and law, the Liverpool screen school, and the university's new professional centre will move to the new Redmonds Building on Clarence Street, consolidating the faculty of arts, professional and social studies in the Mount Pleasant campus.
LJMU added the acquisition will provide an opportunity to move the faculty of education, community and leisure from IM Marsh in Aigburth to join the rest of the university and consolidate academic delivery within the city centre.
CBRE advised LJMU on the acquisition.