Kev
05-24-2006, 12:15 PM
LIVERPOOL'S largest office building is to undergo a £10m transformation just weeks after it changed hands in a record deal.
The Royal & Sun Alliance building in Old Hall Street, known locally as the Sandcastle, was bought by the city's biggest commercial landlord, Downing, in March for £51m, following a fierce bidding war. It was the biggest single transaction for a city centre office building in Liverpool.
It comprises 390,000 sq ft of space, including the glass atrium entrance shared by Royal & Sun and the Liverpool Daily Post & Echo. There are around 2,000 staff of the insurance giant who will remain on the site.
Downing also plans to give the building a new name. It will be known as The Capital.
"It's fitting that we rechristen this imposing building given the extensive refurbishment programme we have in mind," said George Downing, who heads the property group.
"It's the largest business space at the heart of Liverpool's office core and we wanted a name which reflects its status.
"We also settled on The Capital as it's so appropriate for all forms of commerce. Capital growth is the aim of business and capital ideas are ultimately what create jobs, opportunity, and wealth for the city.
"There's also a pleasing resonance with the 2008 European Capital of Culture celebrations." more (http://icliverpool.icnetwork.co.uk/thebusinessweek/regionalnews/tm_objectid=17122144%26method=full%26siteid=50061% 26page=2%26headline=new%2dname%2dand%2dimage%2dcha nge%2dfor%2dsandcastle-name_page.html)
The Royal & Sun Alliance building in Old Hall Street, known locally as the Sandcastle, was bought by the city's biggest commercial landlord, Downing, in March for £51m, following a fierce bidding war. It was the biggest single transaction for a city centre office building in Liverpool.
It comprises 390,000 sq ft of space, including the glass atrium entrance shared by Royal & Sun and the Liverpool Daily Post & Echo. There are around 2,000 staff of the insurance giant who will remain on the site.
Downing also plans to give the building a new name. It will be known as The Capital.
"It's fitting that we rechristen this imposing building given the extensive refurbishment programme we have in mind," said George Downing, who heads the property group.
"It's the largest business space at the heart of Liverpool's office core and we wanted a name which reflects its status.
"We also settled on The Capital as it's so appropriate for all forms of commerce. Capital growth is the aim of business and capital ideas are ultimately what create jobs, opportunity, and wealth for the city.
"There's also a pleasing resonance with the 2008 European Capital of Culture celebrations." more (http://icliverpool.icnetwork.co.uk/thebusinessweek/regionalnews/tm_objectid=17122144%26method=full%26siteid=50061% 26page=2%26headline=new%2dname%2dand%2dimage%2dcha nge%2dfor%2dsandcastle-name_page.html)