The Grade II listed Lewis’s Building in Liverpool city centre has been put up for sale.
Situated on the corner of Ranelagh Street, the 320,195 sq ft building was opened in 1856 as Lewis’s department store and has been partially redeveloped, with the remaining space offering significant opportunity for further development with potential uses including education, life sciences, hospitality, residential and student accommodation.
Current tenants of the building include the 126-bedroom Adagio aparthotel, which occupies 86,000 sq ft, and Pure Gym, which occupies 27,107 sq ft.
The vacant space in the building includes 68,659 sq ft of self-contained office space (The Department) and the remainder of the former department store, which provides 138,492 sq ft of space in shell and core condition. The site also includes three retail and leisure units, totalling 37,149 sq ft, plus a 23,801 sq ft basement.
The property generates more than £800,000 of annual rental income with Adagio Hotels’ lease set to expire in 2043 and Pure Gym’s in 2032.
David Winterbottom, principal, capital markets at Avison Young, which alongside Area has been appointed to market the opportunity, said: “The Lewis’s Building is an iconic cornerstone of Liverpool city centre, and we expect to see strong interest as this historic site comes to market. The property presents a truly unrivalled opportunity for mixed-use redevelopment, offering exceptional flexibility for a wide range of future uses.
“Positioned at the intersection of Liverpool’s thriving retail, office and innovation districts, the site benefits from significant planning potential across residential, leisure, commercial and cultural sectors. Liverpool city centre has undergone a remarkable transformation in recent years, driven by significant inward investment, and this landmark asset is now poised to be reimagined for the next generation, reflecting the continued regeneration and growth we’re already seeing across the wider city region.”
