Liverpool's iconic Parr Street Studios and Hotel are up for sale.
Andrew Owen, head of Business Space at property agents Mason Owen, has announced that Mason Owen is now marketing Parr Street Studios and Hotel in Liverpool City Centre.
Andrew said: “With an exceptional pedigree, this iconic recording studio was once owned by Genesis and has become one of Liverpool’s most well-loved creative buildings.”
The building is steeped in musical history with the likes of Coldplay, Elbow, Take That, the Spice Girls, Echo & the Bunnymen, Paolo Nutini and even Barry Manilow using the studios. In fact, Parr Street is the home of Coldplay's first three albums.
Andrew continued: “It is now on the market for sale to discerning buyers keen to be the next owners of this unique building.
“This is a unique offering as the freehold, Parr Street Studio’s immense goodwill, its car park, tenancies and growing business in the heart of the city are all included in the sale.
“The purchaser has an outstanding opportunity to expand Parr Street Studio’s hotel, hospitality and office business - or simply to walk straight into a ready-made multi-faceted business.”
Mason Owen is seeking a figure in the order of £2.5m.
33-45 Parr Street, was built in the 1930's with accommodation on four floors.
It is located in the heart of Liverpool's Ropewalks area, 10 minutes from Lime Street, five minutes from Central Station, 10 minutes from the waterfront and five minutes from Liverpool ONE, Chinatown and the Anglican Cathedral. Liverpool John Lennon Airport is within a 20 minute drive. London is within a two hours train journey.
The freehold, business and equipment were purchased by Gary Millar, Steve Macfarlane and Thomas Lang five years ago and since then the partners have successfully developed the property into a well-presented business providing several sources of income.
Steve said: “It was part of our ambitious five year plan and exit strategy to save and successfully turn around the business.
“We are so proud of what we have done but recognise it’s now time for someone else to take Parr Street to the next level.”
Parr Street Studios now houses two Grammy award winning fully-equipped recording studios, two award winning bars (3345 and STUDIO2), 11 offices, a 12-bedroom hip hotel and a new self-contained hotel concept with six-mini bedrooms called PodZzz.
With the exception of the hotel, offices and PodZzz all other parts of the premises have the benefit of long term leases (those businesses are unaffected by the sale).
Also included in the sale is a seven space car park, which is part of the site.
Andrew added: “The owners of Parr Street Studios have developed the business over the past five years by offering friendly service, a welcoming environment and uniquely complimentary product offers.
“However, there is potential for the incoming owners to develop parts of the business further and maximise income from the large site on offer.
“This is an iconic and much-loved building in Liverpool City Centre and an exciting proposition for any potential purchaser.”
Parr Street Studios and Hotel is available on a freehold basis (including the car park).
For further information about this sale, go to http://www.parrstreet.co.uk/ParrSt/Preview.htm
To arrange viewings or to request further information please call Andrew Owen on +44151 242 3000 or email andrew.owen@masonowen.com
Chinese interests should call Colin Ling at Colin Ling Associates on +447917 068023
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