Parr Street Studios for sale

The recording studios and hotel in Liverpool city centre are being sold.

Located at 33-45 Parr Street, Parr Street Studios and hotel is on the market for £2.5m on a freehold basis.

The freehold, business and equipment were purchased by Gary Millar, Steve Macfarlane and Thomas Lang five years ago.

Macfarlane 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."

Andrew Owen, head of business space at agents Mason Owen, which is marketing the property, 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.

"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."

Parr Street Studios now houses two fully-equipped recording studios, covering 20,000 sq ft, two bars, 3345 and Studio 2, 11 offices, a 12-bedroom hotel and a new hotel 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 and those businesses are unaffected by the sale.

Also included in the sale is a seven space car park, which is part of the site.

33-45 Parr Street, built in the 1930's with accommodation on four floors, is located in Liverpool's Ropewalks area, 10 minutes from Lime Street, five minutes from Central Station, 10 minutes from the waterfront and five minutes from Grosvenor's Liverpool One, Chinatown and the Anglican Cathedral. Liverpool John Lennon Airport is within a 20 minute drive.

Musicians including Coldplay, Elbow, Echo & the Bunnymen, Paolo Nutini and singers such as Take That and Barry Manilow have used the studios in the past.