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Royal Liver Building on sale for £40 million

Royal Liver Building on sale for £40 million

Royal Liver Building on sale for £40 million It is one of the most iconic buildings in the country – and arguably around the world – and now it’s up for sale.

Royal London Mutual Insurance Society has slapped a £40 million price tag on the jewel in Liverpool’s crown, the Royal Liver Building.

According to a report in the Liverpool Echo, the London-based insurer has instructed commercial real estate firm CBRE to list the building’s sale despite being involved with the building, albeit under an acquired company, for more than a century.

Royal Liver Assurance was founded in 1850 as the Liverpool Lyver Burial Society and was meant to provide people in the city with assistance related to losing a wage-earning relative. After working in various premises across the city, it started work on the Royal Liver Building in 1908 before moving in on July 19, 1911. However, in 2011, Royal London Mutual Insurance took over the company and took the Royal Liver Building as part of the acquisition.

Colin Thomasson, executive director of CBRE, told the Echo that the company had gone through a period of asset management over the last few years and felt now was the appropriate time to sell.

“It is an extremely rare occurrence and I have never come across a building with more than a 100-year history that has never been sold before,” he said.

“I think it is highly unlikely that any change of name will come about and I strongly doubt the use will change too.

“There are 19 businesses in the building who all have leases and those leases have many years left to run.

“We are launching the marketing of the building this week and will begin the process of approaching investors.

“This sale presents an extremely rare opportunity to acquire a unique part of Liverpool’s heritage.”

The Royal Liver Building is located at the Liverpool Pier Head and, along with the Cunard Building and Port of Liverpool Building, forms one of Liverpool’s Three Graces on the UNESCO protected waterfront.

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