St Paul’s office comes to market in Liverpool

20 January 2017 08:35 Comments (0)

No.4 St Paul’s Square in Liverpool city centre has been put up for sale by English Cities Fund for £23.3m, with GVA instructed on the sale process.

The building offers 107,134 sq ft of office space with floorplates of 14,000 sq ft. It has an annual rental income of £1,932,938. Offers in excess of £23,365,000 are being invited, reflecting a net initial yield of 7.75%. Rental guarantees of two years are being offered on the vacant space within the building.

Completed in 2011, No. 4 was the last piece in the jigsaw at St Paul’s Square, but is still less than 60% let. Tenants include Santander, Mercer, CBRE and GVA, while local law firm MSB Solicitors moved into 6,100 sq ft on the first floor in December 2016 in the building’s most recent deal. A little more than 45,000 sq ft is currently vacant, including the whole of the second and fifth floors.

Gurminder Manak, director, investment at GVA, said: “GVA has been instructed to explore a potential disposal of 4 St Paul’s Square. A number of parties have expressed an interest, which is not surprising given that it represents the best in class office building and business environment in Liverpool.”