A Water Street office building has been placed on the market with potential to meet “growing demand for high end city centre apartments”.
The residential potential for Drury House, which has been given a £4.5 million price tag, has been highlighted as a buyer is being sought to redevelop the building.
Commercial property agent Hitchcock Wright & Partners is acting on behalf of a private client to sell the seven-storey property, located in the city’s business district.
A pre-application approval is already in place offering the capability to create 141 contemporary residential apartments, utilising the site’s existing glass panelled frontage to Water Street and an additional new build development to the Drury Lane elevation.
Brian Ricketts, partner at Hitchcock Wright & Partners, says: “There is a growing demand for high end city centre apartments and luxury accommodation for the city’s burgeoning tourist market.
“The amenities in the buildings vicinity, including the popular eateries on Castle Street, as well as the Pier Head and Albert Dock makes a residential conversion or redevelopment hugely attractive; we have already had strong demand for this site.”
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It’s great that uses are being found for these buildings. But also sad that Liverpool clearly isn’t attracting enough businesses to create high demand for office space; I hope we don’t end up with a city centre with loads of apartments but no jobs apart from ones in bars and restaurants.