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Commercial Property

Royal Albert Dock's Atlantic Pavilion handed reduced asking price

Atlantic Pavilion was constructed as a dock warehouse in 1846 and was converted into offices in 1992

Atlantic Pavilion, Royal Albert Dock, Liverpool(Image: CBRE)

Royal Albert Dock's Atlantic Pavilion has been handed a reduced asking price after a year on the market.

The Liverpool building is now being offered for £6.9m after having first been up for sale for £8.425m in October last year.

CBRE is still marketing the historic building on behalf of Fabrix, a real estate firm.

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The building forms part of the grade I-listed Royal Albert Dock estate which was sold for around £40m in May this year. That deal did not involve Atlantic Pavilion.

Atlantic Pavilion extends to 81,138 sq ft and is arranged over basement, ground and five upper floors.

It is currently 21% let to two tenants: Plus Dane Housing and Avalanche Studios Group. Plus Dane Housing started a new 10-year lease in April and pay £307,512 each year.