The largest office building in Liverpool has been put up for sale with a price tag of £90m.
The Capital Building has recently undergone a major refurbishment and counts the UK government, Royal & Sun Alliance, NCP and Tesco among its tenants.
The building in Old Hall Street, known as the 'Sandcastle', was constructed in the 1970s and is a former home of the Liverpool Echo.
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CBRE UK has been instructed to sell the 13-storey property which has been owned by Starwood Capital Group and Trinity Investment Management since 2015 after it was sold for £55m.
The building has over 410,000 sq ft of space and currently serves as one of three major processing hubs for UK visas and immigration.
In October 2021, a major renovation to provide Grade A facilities as well as a bar, café and work and social spaces was completed at The Capital Building.
The property was completed in 1974 and was originally constructed by Royal Insurance as its head office.
In 2006, the building was sold to Liverpool property giant George Downing who renamed it from New Hall Place to The Capital Building. Mr Downing bought the building for £50m from its original owner-occupier, Royal & SunAlliance.
The move to sell the building comes almost two months after Liverpool’s Royal Albert Dock was sold for around £10m under the original asking price.
Real estate developer and investor General Projects and investment management company Neo Capital snapped up the site for around £40m.
The 375,000 sq ft dock was originally put up for sale last summer with an asking price of just under £50m.
Another Liverpool landmark, the Royal Liver Building, was also put up for sale in March 2022 for only the second time in its history.
However, BusinessLive reported in November last year that the sale had been put on hold.
The grade I-listed landmark is jointly owned by Everton majority shareholder Farhad Moshiri and is multi-let to major companies including Princes Foods, HSBC, Mott MacDonald, Grant Thornton and Everton Football Club.
