Commercial Estates Group (CEG) in partnership with Anglo Scandinavian Estates have completed the acquisition of Exchange Station, with Hitchcock Wright & Partners and GVA Bilfinger appointed as joint letting agents to market the vacant office space.
The investment project was valued at approximately £20m and work on the first phase of the £7m refurbishment of this iconic building has already begun. The investment will see the third floor split into three suites offering between 3-4,000 sq ft of Grade A office space.
The former Victorian Railway Station on Tithebarn Street was built in 1888 and developed almost 100 years later by English Estates. The handsome historic façade was retained and 190,000 sq ft of office accommodation created in the basement, ground and five upper floors.
Brian Ricketts, partner and head of office agency at HW&P who advised CEG with the purchase said, ‘Having identified Exchange Station as a sound investment opportunity, we immediately approached CEG, who have had a long association with Liverpool and are one of the city’s main landowners. CEG have already committed to a rolling programme of speculative refurbishment which will provide occupiers with a wide range of Grade A office suites and will be able to accommodate businesses of all sizes.
Exchange Station is one of Liverpool’s important Grand Buildings and is of great significance to the city. This is the only speculative refurbishment programme of its size currently on-site in the commercial district and will deliver much needed Grade A office space to satisfy immediate and future demand, and it also fits with Liverpool City Council’s regeneration vision for this area of the city.
Exchange Station provides office suites of various sizes and basement car parking for 206 cars.
Contact Brian Ricketts for more information