Building worthy of price tag

Tuesday, December 23, 2008

A business property for sale in Liverpool is worth its price tag, it has been claimed.

An asking price of around £1.2 million is a perfectly reasonable price for one of the most prominent office blocks in Liverpool, it has been argued.

Valuations on the property, located at 34-36 Castle Street, suggested that an asking price of over £1 million is realistic for a property of this calibre.

The Liverpool Daily Post notes that since the commercial relocation of HBOS to new premises in Old Hall Street, the premises in the heart of the city's business district have been left without a proper landlord.

Brian Ricketts, who works at the agent handling enquiries on the location, said: "The subject property is one of the most attractive and recognisable office buildings in the central business district."

He added that it may appeal to an investor looking to capitalise on corporate real estate, noting that rental income from current tenants stretches to around £18,000 each year.

In related news, a new development in the north-west may now not go ahead, after the company tasked with building new space in Salford fell into administration, the Manchester Evening News reports.

Source: ask-re The Property People LLP