Following the acquisition of Oriel Chambers by Yakel Property Investment, CBRE’s Office Agency team has been retained to advise on the future repurposing and investment in this historic Grade I-Listed building, one of the finest addresses in Liverpool.
Commercial law firm, Kuits, advised on the purchase and CBRE’s Liverpool team will work alongside the new owner to ensure the unique building reaches its full potential and preserves its longevity.
The Water Street property, originally designed in 1864 by renowned architect Peter Ellis, is currently home to more than 30 businesses, including primary tenant Oriel Barristers Chambers since 1965. The building offers a mix of space ranging from 138 sq ft to 6,000 sq ft and is currently 75% occupied.
Acting on behalf of Yakel, CBRE will focus on maintaining the building as office space, with significant investment planned to deliver good quality, flexible space, focusing on the health and wellbeing of tenants. Plans also include the repurposing of Oriel Close and the return of a ground floor offering for tenants and the immediate community. Superfast broadband will also be provided as standard to all occupiers.
Andrew Byrne, Associate Director at CBRE Liverpool, said;
“We are delighted to work with Yakel following the recent purchase of Oriel Chambers to safeguard the future of this unique office building, which couldn’t be better placed to access all Liverpool has to offer and will attract a number of businesses across a range of sectors. Its flexible offer is suitable for occupiers ranging from start-ups to growing businesses.
“The Grade I-listed property lies between the grandeur of Water Street’s two other famous landmarks – Liverpool Town Hall and the Royal Liver Building – and is within walking distance of Liverpool’s iconic waterfront. It is a uniquely both historic and contemporary destination for businesses.”
Charlotte Barker, commercial property solicitor, Kuits said:
“Oriel Chambers is a significant building in the history of Liverpool and we were delighted to advise Yakel in acquiring the property as part of its expanding portfolio. It sits in one of the most desirable commercial areas of the city centre and has fantastic potential for new and established businesses looking for unique space from which to operate.”
Samuel Farage, managing director of Yakel said:
“Oriel Chambers is one of the finest office addresses in Liverpool and we are delighted to take over stewardship of such an historic hub for business. We will harness the expertise of the team at CBRE to help us realise our future plans for this important office building moving forwards. The team at Kuits provided key legal expertise throughout the transaction, demonstrating experience, knowledge and commercial acumen to help us with this unique acquisition.”
