Worthington Owen secures triple deal at Castle Street

The consultant has concluded a trio of deals worth £600,000 at 14 Castle Street in Liverpool with a further £1.4m of sales set to be agreed.

Acting on behalf of the building’s owner, Glasgow-based Kilpatrick Property Group, Worthington Owen has completed the sale of three office suites.  The largest of these is 1,850 sq ft to recruitment consultant Dynamic Search, while Plexus Cotton has bought a 904 sq ft suite, and BXB has bought an 883 sq ft office.

Two further offices of 1,943 sq ft and 1,835 sq ft are in legals while a deal for a 779 sq ft suite is set to complete this week, leaving three spaces available in the building, which is currently being refurbished.

Each of the completed sales has been to SMEs, who have purchased the suites through Self Invested Personal Pension Plans [SIPPs] and leased them back to their operational companies to take advantage of tax breaks.

Andrew Owen of Worthington Owen said: “Works to the building are only due to complete in mid-October but we already have completed 3 sales and with another 3 deals in solicitors’ hands, due to complete imminently. It has been amazing how well received the building has been by local companies who are keen to relocate from rented accommodation and acquire their own premises for investment purposes.”

Gary Goodman of BXB added: “We are delighted that we got the opportunity to purchase our own office in the city centre and can now pay rent to our own pension fund rather than to a landlord.”