Port of Liverpool Building for sale

Downing has appointed DTZ to market the 160,000 sq ft Port of Liverpool Building at the Pier Head, for an undisclosed sum.

The grade two-listed office is known as one of the Three Graces on Liverpool’s waterfront, and was built in 1904 as the headquarters for the Mersey Docks & Harbour Board.

Downing bought the building in 2003 for around £13m, and since the acquisition has invested £8.5m in the refurbishment.

The building is 92% let, with 6,000 sq ft available to let.

Tim Cameron-Jones, a senior director in DTZ’s investment agency, said that the asset had “stood the test of a really tough market”.

A spokesman from Downing said: “The Port of Liverpool Building is one of the centrepieces of Liverpool’s UNESCO world heritage waterfront and we are proud custodians, investing heavily to restore the building to its original glory and to bring it up to Grade A equivalent standard.

“Our multi-million pound programme of works to refurbish and modernise the building is now complete and will help to ensure it retains its place in the city’s architectural legacy for many decades to come.

“With the current market upturn for prime property assets, we think the time is right to market this remarkable asset.”