Acting on behalf of Yakel Property Group, the National Specialist Markets team at CBRE in Manchester has completed the acquisition of Urban Splash’s Slater Street Studios in Liverpool's Ropewalks area for an undisclosed sum.
The Group plans to rebrand and redevelop the studios to attract the growing media and tech sectors and business incubator companies.
Slater Studios, one of the first buildings acquired by Urban Splash, is an 11,300 sq ft period property comprising three stories and a basement. Currently, the ground floor is fully let to seven retail and leisure units which includes Ellis Brigham, Caribou Poutine Ltd and 3 B Records.
Situated at the centre of the Ropewalks area close to Bold Street, the, Studios have developed along with the changing face of the location which was once home to Liverpool’s indie music scene. Public transport is easily accessible with Central Station, Lime Street Station and the bus station all within a few minutes' walk.
Nick Huddleston, associate director, CBRE’s Specialist Markets Team in Manchester, said: “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."
Sam Farage, director of Yakel Property Ltd, said: “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. In addition, we plan to install market leading commercial fibre optic broadband and telephony to further enhance the offering, whilst continuing to attract and support Liverpool’s growing media, tech and business startup tenants. We will continue to look for investment and development opportunities throughout Liverpool, Manchester and the wider UK.”
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