Middle Eastern private investors have bought one of Liverpool’s iconic Three Graces, the Port of Liverpool Building, for £27.6m.
The buyers, understood to be two family businesses, bought the 160,000 sq ft office building from Downing.
It was over 90% let to tenants including stockbroker Rathbone Brothers when it was put on the market earlier this year following an £8.5m refurbishment programme.
Downing bought the block – adjacent to the Cunard Building and the Royal Liver Building – in 2001. It is part of Liverpool’s UNESCO world heritage waterfront.
Ann Lodge, chief executive of Downing, said: “The sale process was incredibly competitive, with strong international and domestic interest. This is a great sign for the Liverpool property market and shows that the city is firmly on the map for international investors.”
Cushman and Wakefield acted for Downing; GVA represented the buyer.
