CBRE’s Operational Real Estate (OPRE) team in Manchester has completed the freehold disposal of RSL Property Management Ltd’s leisure investment on Castle Street in Liverpool to Manchester based HS Property Group. Sold close to the guide price of £4,500,000, the 16,748 sq ft prominent leisure and aparthotel investment provides an income of £293,000 pa and is home to the popular bar restaurants of Santa Maluco and Mowgli with the upper parts let to Istay Liverpool, an expanding boutique aparthotel operator with 6 schemes across the city centre.
The striking prominent Grade II listed building was extensively renovated and converted in 2016 and is situated in a prime position fronting both Castle Street and Water Street in Liverpool’s commercial core with adjacent operators including Gino D’Acampo, Rudy’s Pizza, Bacaro, Alchemist and Restaurant Bar & Grill.
Nick Huddleston Associate Director within CBRE’s Manchester OPRE team comments;
“We are delighted to have transacted this prominent mixed-use leisure investment in Liverpool City Centre. The building offers a multi let, long term income stream in the heart of the city which continues to evolve as the one of the Liverpool’s main premium bar restaurant and leisure locations. Investors across the north west continue to look for well-located leisure investment opportunities with long term income profiles.”
David Searle of HS Property Group remarks
“We are excited to have acquired this landmark building in the heart of Liverpool City Centre. We continue to focus on investment and asset management opportunities across a range of sectors within Manchester, Liverpool and the wider north west. HS Property Group are acquisitive for more opportunities and are very much open for business”.
