Liverpool city centre’s Slater Street Studios is to be rebranded and redeveloped after being sold for an undisclosed sum.
Yakel Property Group has acquired the Ropewalks building, which has a fully let ground floor, from Urban Splash.
The 11,300 sq ft period building, which comprises three stories and a basement, was one of the first buildings acquired by Urban Splash, which also developed the nearby mixed-use Concert Square.
Retail and leisure occupants including Ellis Brigham, Caribou Poutine Ltd and 3B Records are currently based on the ground floor of the site, and the new owner has revealed plans to rework the office suites.
With an aim to attract the growing media and tech sectors and business incubator companies, Sam Farage, director of Yakel Property Ltd, says: “We are excited to acquire this commercial investment in Liverpool city centre as we strategically increase our investment in the area. We will focus on rebranding and refurbishing the office suites into bespoke and trendy office units and business incubator space.
“We will continue to look for investment and development opportunities throughout Liverpool, Manchester and the wider UK.”
Nick Huddleston, associate director of CBRE’s specialist markets team in Manchester, which represented the buyer in the deal, adds: “We are delighted to conclude the acquisition of this prominent building in the creative heart of Liverpool. The building provides a wide-ranging income stream with several ongoing asset management opportunities.
“The Ropewalks area continues to develop into one of Liverpool’s most exciting districts with an evolving commercial, residential and leisure scene as a consequence of significant ongoing investment, development and regeneration.”
Tim Garnett of Keppie Massie acted on behalf of Urban Splash.