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Property JV snaps up £3.25m Littlewoods site in Liverpool

A joint venture comprised of two North West business associates has purchased a significant office development on the edge of Liverpool’s business district.

Craig Blackwell of Prospect Capital and Martin Wilcocks of Wilcocks & Wilcocks have paid £3.25m for 122 Old Hall Street, and follows the pair’s £3.75m purchase of Number 8 Water Street earlier this month.

The 32,000 sq ft office building has been purchased from Shop Direct Home Shopping, the parent company of Very.co.uk and Littlewoods.com, who will remain as tenants in the building with their current lease expiring in September 2019.

Full plans for the rest of the three-storey site are set to be announced in the first quarter of 2017.

Following the acquisition, Craig Blackwell commented: “It gives us great pleasure to announce the purchase of this iconic site on Old Hall Street. The site is positioned, as we see it, at the gateway to the central business district of Liverpool City Centre. With outlooks across to the city and the river Mersey this sits in a key position on the city landscape.”

The building has been part a feature of the city’s business district since the 1980s, when the site was purpose-built by the Moores family.