Liverpool’s iconic Lewis’s Building hits the market

Global commercial real estate advisor Avison Young and joint agents Area have been appointed to market the Lewis’s Building, one of Liverpool’s most historic Grade II-listed landmarks, on a freehold basis.

Situated on the corner of Ranelagh Street in Liverpool city centre, the 320,195 sq ft building was opened in 1856 as Lewis’s, one of England’s first department stores, and has been partially redeveloped, with the remaining space offering significant opportunity for further development.

Current tenants of the building include the 126-bedroom Adagio aparthotel, accounting for 86,000 sq ft, and Pure Gym, accounting for 27,107 sq ft. The vacant space in the building includes 68,659 sq ft of self-contained office facilities (The Department), and the remainder of the former department store in shell and core condition at 138,492 sq ft.

The site also includes three prime retail and leisure units, totalling 37,149 sq ft, each benefiting from independent access off Renshaw Street and Ranelagh Street, plus a 23,801 sq ft basement.

The strategically located building sits at the junction of the city’s Knowledge Quarter, Ropewalks and prime retail districts, and a ten minute-walk from both the University of Liverpool and Liverpool John Moores University campuses. The area has already been earmarked for large-scale regeneration, including the £5bn expansion of Liverpool Central Station Gateway, which sits directly behind the Lewis’s Building.

The property has over £800,000 of annual income from rent currently secured, with Adagio Hotels’ lease set to expire in 2043, and Pure Gym’s in 2032. The site presents an unrivalled city centre investment and redevelopment opportunity, with potential uses including education, life sciences, hospitality, residential and student accommodation.

David Winterbottom, Principal, Capital Markets at Avison Young, said:
“The Lewis’s Building is an iconic cornerstone of Liverpool city centre, and we expect to see strong interest as this historic site comes to market.

“The property presents a truly unrivalled opportunity for mixed-use redevelopment, offering exceptional flexibility for a wide range of future uses. Positioned at the intersection of Liverpool’s thriving retail, office and innovation districts, the site benefits from significant planning potential across residential, leisure, commercial and cultural sectors.

“Liverpool city centre has undergone a remarkable transformation in recent years, driven by significant inward investment, and this landmark asset is now poised to be reimagined for the next generation, reflecting the continued regeneration and growth we’re already seeing across the wider city region.”

For further information, or to arrange an inspection, please contact David Winterbottom or Chris Ward at Avison Young.