This article was produced by Nabarro LLP, which joined CMS on 1 May 2017.
Nabarro has advised Kish Eleven Limited on behalf of Green Property on the sale of the India Buildings, located in the heart of Liverpool, to Marwees Limited for £17m. The architectural icon was Liverpool’s Passport Agency until their move in 2002. Since the departure of the Home Office department, the building is occupied by businesses and retailers. The transaction is one of a series of major projects set to transform Liverpool’s city centre into a popular investment destination.
India Buildings is a Grade II-listed property which was constructed in 1924 and occupies an entire block in Liverpool’s traditional office core. Originally the home of the Blue Funnel Line, the building opened for business in the early 1930s. It consists of 500,000 sq ft of office space over 10 floors. It also includes the Holts Arcade, a barrel-vaulted retail arcade running the length of the building and has its own entrance to James Street station.
The building is currently occupied by tenants that include DLA Piper, Colliers and the Citizens Advice Bureau.
Real Estate partner Mark Haywood led the Nabarro team, assisted by senior associate David Lawson.
Commenting on the transaction, partner and head of the Manchester office, Mark Haywood, said:
“India Buildings attracted strong interest from a range of bidders in a continuing indication of the robustness of regional office markets. Nabarro in Manchester was well placed to complete the sale successfully in ten days.”