The future of Liverpool’s Federation House is said to be in “safe hands” after it was sold for £2.25 million.
Property developer Downing completed the sale of the Hope Street building to Robert Smith Group following improvements, refurbishments and lettings at the site.
The deal follows Downing’s sale of the iconic Port of Liverpool Building at the Pier Head for £27m last November.
John Clegg, head of property management at Downing, says: “We’re pleased to complete the sale of what is one of the most iconic buildings in Liverpool’s Canning Street Conservation area. The improvements and refurbishments Downing has made to the property means that the new owners are inheriting a building which is in excellent condition and fully let to a great blend of tenants.”
The 21,000 sq ft Federation House is currently home to occupants including Liverpool Media Academy, Ego and Moose Coffee.
Andrew Owen, director of Worthington Owen which acted on behalf of Downing in the transaction, says: “We were delighted at the level of interest generated in this asset and are increasingly seeing investments such as this throughout the city.
“The Robert Smith Group performed exceptionally well throughout this transaction – completing within eight weeks of the agreement of terms. There is no doubt the future of the building is in safe hands.”
Matthews and Goodman acted jointly with Hatrick Property on Robert Smith Group’s acquisition of the site, which is distinguished by faux-Aztec cladding manufactured from sculpted glass fibre.
Architect William Mitchell, who also designed the sculpted bell-tower and main doors of the nearby Liverpool Metropolitan Cathedral, is behind the design.