Office-to-resi pipeline grows in Liverpool city centre
Plans have been revealed for the conversion of an empty office on Water Street, next to Oriel Chambers and Martins Bank, into 96 apartments following the sale of the block to a Chinese investor earlier this year.
The 73,000 sq ft office was sold in May by Columbia Threadneedle to Chinese company Sino Swan Holdings, also the owner of No.2 Moorfields in Liverpool. The building was bought for around £3.7m.
Ascot Property Investments and Brook House Investments are the buy-to-let agents for 8 Water Street. The proposed scheme has been named The Residence.
According to marketing materials, the plans for the 1970s building includes “a complete overhaul of the building’s façade, the installation of feature lighting throughout and, subject to planning, the addition of two further floors”.
The work on the block will retain the “unique porthole styling in line with the architect’s original contemporary and minimalist vision”.
The Residence is being marketed to buy-to-let investors at £225/sq ft. The flats proposed are a mix of studio, one and two-bedrooms.
8 Water Street has been largely vacant for a number of years, and was previously the head office for Aviva. In recent years the building was used by artistic collective If Only, which sub-let the space from Shape Arts.
The project the latest in a string of residential conversions being brought forward within Liverpool’s commercial district. Fortis Developments and Signature Living submitted a planning application in May for 125 flats in Silkhouse Court, and earlier this year Bruntwood gained consent for the conversion of Orleans House into 75 apartments, before selling the building to Delph Property Group.