A deal of around £4.5m has been sealed for a prominent mixed-use site in Liverpool city centre containing restaurants and an aparthotel.
RSL Property Management has sold the Grade II-listed Castle Street building to Manchester-based HS Property Group.
The 16,748sq ft site is said to provide an income of £293,000 per annum, and is home to bar-restaurant Santa Maluco and Indian chain Mowgli.
The upper section is let to Istay Liverpool, an expanding boutique aparthotel operator with six schemes across the city centre.
CBRE’s Operational Real Estate (OPRE) team in Manchester completed the freehold disposal of the site.
Nick Huddleston, associate director at CBRE’s Manchester OPRE team, said: "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.’’
CBRE said the building was 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.
David Searle of HS Property Group said: ‘’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."
