Originally Posted by
Kev
A 19th-CENTURY Liverpool warehouse, currently occupied by a charity, could become a boutique hotel or restaurant, helping to progress the regeneration of a prominent city street.
Age Concern, based at the five- storey Sir Thomas House, on Sir Thomas Street, has put the building up for sale, and the Daily Post has learned that hotel and restaurant proprietors have expressed a huge interest in the property.
The charity says it is relocating after 30 years now bus routes have been diverted, meaning people can no longer be dropped off near by.
Sir Thomas Street has seen a resurgence in recent years with the conversion of old buildings into venues such as Café Sports England, owned by Liverpool FC player Jamie Carragher, and the Sir Thomas Hotel.
Kevin Cockburn, senior partner at chartered Surveyors Venmore said: “Age Concern is one of our clients and we want to get the highest price possible for them.
“The hotel market could increase the value of the building which is currently office space.
“It is set within the Cavern Quarter, close to the city centre and Lime Street, which is a highly attractive location – with this usage it could be worth £2m.
“However, it is not in the business district, so office prices would be lower by about £0.5m.
“There has been a lot of interest from several prominent hotel and restaurant proprietors so we are sure it will reach a fare price.
“It is in such a prime location for tourists and that whole area of the city is really improving. Victoria Street looks great and Sir Thomas Street is going in the same direction.”
Offers should be coming in from interested parties this week, and a decision could be made soon.
Age Concern is now looking for a small city centre office and a larger out-of-town property.
The property’s freehold is owned by Liverpool council and buyers are bidding to acquire a long-term lease. A Liverpool council spokesman said: “The council owns the freehold and there is a restriction on the use. If this was going to change, plan-ning permission would be needed.
“We would also have to look into any rise in value as a result because we have to bear in mind our commercial investment.
“We have not entered into any negotiation yet.”
lizawilliams
