We’re extremely proud to announce that we are now officially the new owners of Exchange Station in Liverpool having bought the building from the Homes & Communities Agency (HCA) earlier this week.
We have been looking to acquire the property for a while now and have some really exciting plans for this landmark development! Working in partnership with Anglo Scandinavian Estates, we’ve invested some £20million including a phased £7million refurbishment, which will see us complete the work that was started by its previous owners.
For the last 12 months, our team has been working closely with HCA to strike a deal which will deliver the best value for this prime asset and further support the city’s regeneration plans.
Brian Ricketts, at Hitchcock Wright & Partners who advised us on the acquisition, said: “Having identified Exchange Station as a sound investment opportunity, we immediately approached CEG, who have had a long association with Liverpool and are one of the city’s main landowners. This deal further cements CEG’s position as a long-term investor in Liverpool and the wider city region and the company is now undertaking a comprehensive refurbishment of the office space, which is due for completion in summer 2016.”
Deborah McLaughlin, Executive Director, North West at the HCA, said: “Exchange Station is one of Liverpool’s important grand buildings and is of great significance in the city, forming a cornerstone of the central business district. Exchange Station benefits from significant investment including the remodeling of the Atrium, and the creation of a café and great new work space suitable for smaller business for which there is great demand in Liverpool. This deal sees Exchange Station move back into the hands of the private sector and we are confident that CEG will ensure the building achieves its fullest potential.”
So who are CEG? Well, we act on behalf of funds to help source, acquire and dispose of core and non-core, UK commercial property across all the main sectors including office, residential, retail, industrial and mixed-use.
Our business is made up of four core business areas: strategic planning; development; asset and investment management and we work in partnership with communities and local authorities to deliver viable solutions to complex development and planning policy issues.
We have a number of schemes throughout the North West region including: Stakehill Industrial Estate; 196 Deansgate in Manchester city centre and Jackson House in Sale, Greater Manchester.