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Liverpool

Jones Lang LaSalle advises on sale of Liverpool’s West Tower

Delph Property Group acquires city’s tallest building


Liverpool, 1 October 2012 - A multi-disciplinary team from Jones Lang LaSalle has completed the sale of the 40-storey West Tower, Liverpool - the city’s tallest building - to London-based Delph Property Group.

Delph, which specialises in prestige residential properties, has acquired the freehold of the landmark tower from administrators Grant Thornton for an undisclosed sum.

The building includes 106 luxury apartments, 12,500 sq ft of commercial office space across five floors and the UK’s highest restaurant on the 34th floor.

Experts from Jones Lang LaSalle’s Liverpool-based residential investment, project and development services, valuation, rating and lease advisory teams worked on the project after being appointed by Grant Thornton in April 2012.

The team received more than 100 expressions of interest, and fifteen firm offers.
Martyn Green, director at Jones Lang LaSalle, said: “This is a unique transaction for the North West’s residential market. It is very rare, in any city, for a scheme of this scale and quality to be up for sale in its entirety.

“West Tower is a true landmark building, developed to a very high standard and is almost fully occupied - unsurprisingly we received a huge level of interest. The deal marks Delph’s first investment in the North West and the scheme makes a fine addition to the group’s portfolio.”

West Tower was completed in 2007 and, with a spire height of 140 metres (459 ft), the building commands views across the city, over the Mersey to the Wirral and as far as Blackpool on a clear day.

Its apartments are clad in a fully glazed perimeter curtain wall of random clear and opaque panels and are orientated to provide views of both the city and river. The upper penthouse floors are tiered back to incorporate external terraces behind glazed balustrade screens. The exception is the 34th floor, the location of the Panoramic – Britain’s highest restaurant. This floor is completely clad in a clear glass perimeter offering diners views of the city of Liverpool and further afield.

The scheme was built by Liverpool developer Beetham which went into administration last year.