Lord Street, Liverpool
The property was purchased by our retained client, Vabeld, in October 2015 and originally let to BHS under a full repairing and insuring lease. BHS entered Administration in the spring of 2016 and the property was handed back by the Administrator.
Working closely with our Agency colleagues, we undertook a full marketing exercise identifying H&M as the end user for the front part of the building. Following extensive negotiation we were able to secure a new 10 year lease on full repairing and insuring terms. As part of the letting to H&M we oversaw the full strip out of the property, which included extensive asbestos removal, and worked with our client’s design team to restyle the front façade to a more modern retailing format, with brand new cladding and shopfront system.
The building forms part of our client’s larger ownership on Lord Street, as we continue to asset manage the portfolio on this prime retail pitch in Liverpool City Centre.