Price tag for Royal Albert Dock’s Atlantic Pavilion drops by £1.5m

The leasehold of the 80,000 sq ft office block in Liverpool is now being offered with a guide price of £6.9m, down from the £8.4m sought last year.

CBRE is marketing the Atlantic Pavilion on behalf of Fabrix, a real estate investment company. When the grade one-listed building was first put on the market, it was fully let to Shop Direct Holdings. That lease contract concluded in April.

The Atlantic Pavilion sits on the historic Royal Albert Dock. It was constructed as a warehouse in 1846, before being converted into offices in 1992.

The 999-year leasehold, which started in October 1985, also includes 21 car parking spaces, and the right to park at another 49 spaces in the King’s Waterfront area.

Fabrix has managed the seven-floor office building since 2019 on behalf of owner Blend Property, which acquired the docks in 2018 for around £10.8m according to HM Land Registry data.

CBRE declined to comment when asked about the price reduction.