A former Liverpool office building lined up to become new apartments has been sold for £9.6 million.
Delph Property Group has purchased the commercial district’s Orleans House as it expands its PRS (private rented sector) portfolio.
Full planning permission was secured earlier this year to transform the Grade II*-listed Edmund Street building into 71 homes, including eight studios, 15-one bedroom , 45 two-bedroom and three three-bedroom properties.
Delph Property Group, which has acquired the building from Bruntwood, has also purchased a
15-storey apartment building in Manchester city centre.
Howard Crocker, managing director for the company, says: “City centre apartments are increasingly attractive to young professionals and there is a growing demand for good quality,
high specification rental properties of the type we will be providing at these exciting developments.”
Liverpool estate agent City Residential advised on the sale of Orleans House, and managing director Alan Bevan adds: “We were delighted to have advised Bruntwood on the deal to sell Orleans House to Delph and just as pleased to see the scheme being brought to the rental
market on completion.
“There is sure to be a strong demand for such a well located, beautiful building in the heart of the business district.”
Bruntwood, which owned the site for 14 years, says its plan for the office building to be turned into homes was a move to “preserve its long-term future through a residential conversion”.
Following the sale Colin Forshaw, the firm’s head of property, says: “The building has such historical and architectural significance for the city and can now play a major role in creating a thriving residential community and night time economy in this part of the commercial district.”