Blue Star building goes up for sale

Feb 26 2008

A LIVERPOOL city centre building that was previously the headquarters of the famous Blue Star Line has gone on the market with a £2.45m price tag.

Union House, in Victoria Street, has planning permission for conversion to a hotel and is being offered as a major development opportunity by property agents at Knight Frank, which is jointly marketing the building.

Mark Bailey, at the firm’s Northern Hotel & Leisure department, believes there will be strong interest from developers because of the building’s position in the heart of Liverpool’s leisure district.

As well as 32 en-suite rooms, permission has also been granted for a self-contained restaurant to the mezzanine, ground and lower ground floors.

The Grade II listed building dates back to 1882 and during its lifetime it has housed merchants’ offices, including the Liverpool agent of Tetley and Co tea merchants, and was until recently a restaurant.

The building, which was formerly known as Palace Chambers, is next to the Living Room restaurant and bar.

Graham Bowling, associate at Knight Frank’s Liverpool office, said: “The location, its architectural importance, attractive façade and internal features make the property ideal for its new role.

“As well as the Cavern Quarter, the building is just a short distance from the £900m Paradise Street regeneration area and is also well located for the central business district.”

Union House is available freehold and the 17,198 sq ft building could also be reinstated back to its earlier office and restaurant/bar use.

The current owner of the building – developer Property Regeneration – will also consider offers from experienced hotel operators for a joint venture to bring forward the scheme.

The building was the base of Sir William (later Baron) Vestey’s meat and shipping empire, founded in Liverpool.

The company built its fortune in farming and livestock production in South America and shipping produce back to the UK. The Vestey family created the Blue Star Line in 1911.