Liverpool’s Martins Bank Building sold to Kinrise

3rd August 2021

The 210,000 sq ft landmark is being revived as an office building rather than a hotel after being on the market at a guide price believed to be £16m.

Martins Bank Building was built in 1932. Credit: via Kinrise

Kinrise would not disclose how much, exactly, it paid for the grade-two-listed structure.

Kinrise said it would immediately begin a multi-million-pound renovation of the space that would retain its character while bringing in technological upgrades. The company plans to turn the space into grade A offices for both small and large companies.

The ground floor, however, will be public. Kinrise said it wants the space to function as a venue for community events and exhibitions. Other plans include having a café and restaurant on the ground floor and an additional flexible workspace.

This marks the first entry into the Liverpool market for London-based Kinrise, which has five locations in Manchester: Canada House, Northern Assurance Building, Victoria Buildings, 2 Mount Street and 1 Central Street.

Sam Lawson Johnston, co-founder of Kinrise, said:

“Liverpool is a richly diverse and vibrant city and we have been looking for a site here for a number of years. Martins Bank Building meets all the specific requirements we look for in a building; central location, abundance of character, great natural light and volume of space – it is the perfect addition to our growing portfolio.

“The property is our largest site to date and we are looking forward to injecting a new lease of life into the building and sharing it with the local community and businesses.”

The grade-two-listed Martins Bank Building resides on 4 Water Street. Herbert Rowse designed the building, which has been part of the Liverpool cityscape since 1932. The building was slated to become a hotel in 2016 and again in 2019, but nothing ever came out of those plans.

A subsidiary of Starwood Capital owned the building prior to Kinrise. Savills was the agent for Starwood Capital on the deal. It is understood Kinrise was unrepresented.

For more on Liverpool City Region’s Land and Property sector click HERE.

3rd August 2021

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