London-based developer, Seven Capital, has submitted planning applications to convert the Wellington Buildings on Liverpool’s Strand into new apartments.
The office block was listed for an Eddisons auction in early December, with a guide price of £1.5 million to £2 million, but was sold outright before the auction could take place.
The property, currently part-let, generates an annual income of £48,850 and was sold by law of property act receivers.
Seven Capital’s sole director is Balbinder Singh Sohal, who is chairman and chief executive of the Mayfair business. Seven Capital has developments in Birmingham, earlier this year acquiring three sites there that are planned to form a total of 1,000 apartments.
Words: Peter Cribley