Onward Homes move triggers £4m Liverpool office sale

After taking 20,000 sq ft at the Watson Building on Renshaw Street, the housing association has instructed Worthington Owen to sell its former headquarters at 12 Hanover Street.

Onward has completed its lease at Watson Street and is now looking to sell its 33,000 sq ft office on the junction of Hanover Street and Duke Street, which is grade two-listed and dates back to 1889.

The building was purchased by Liverpool Housing Trust in the 1990s and was fully refurbished with a number of original features being retained. LHT merged with five other housing associations eight years ago, with the new company rebranded as Onward in 2018.

Worthington Owen are instructed to seek offers over £4m for the freehold.

Onward’s deal at the 75,000 sq ft Watson Building is for two floors. The grade two-listed building has been fully refurbished following a £16.5m investment, supported by a £5.6m loan from the Combined Authority’s Chrysalis Fund.

Following Onward’s deal, the building is 62% let with 28,200 sq ft available on the first, second, and seventh floors.

Andrew Owen of Worthington Owen said: “This is an incredible building in a great part of the city and we expect to receive lots of interest not only from investors and possibly even owner occupiers seeking to retain the building as an office but also developers who see its potential for alternative use.”

Bronwen Rapley, chief executive of Onward Homes added: “We are excited to be moving to a modern purpose-built office at the Watson Building in Renshaw Street which will be welcoming to customers and will provide a great working environment for colleagues.

“LHT committed to 12 Hanover Street at a time when there was very little else being developed in this area of the city centre. We have played our part in this regeneration and look forward to witnessing the next stage in the journey of what can only be described as a stunning statement building.

“True to our commitment to create positive spaces, we remain very much committed to Liverpool. The new office is located a short distance from major transport hubs and is part of our commitment to encourage sustainable modes of transport to work and contribute to the regeneration of this key area of the city centre.”

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