ONWARD: ACQUISITION OF NEW OFFICE & SALE OF FORMER HQNovember 26, 2020
Worthington Owen were instructed by Onward in 2019 to work with them on relocating their head office from their historic base at 12 Hanover Street to new, modern offices in Liverpool City Centre. Whilst 12 Hanover Street was a good location for staff and visitors, it was not operationally efficient being over 4 floors with a fragmented floor plates and Onward wanted more efficient offices over no more than 2 floors. The relocation needed to ensure a seamless disposal of 12 Hanover Street and acquisition of the new offices, so both processes were progressed in tandem.
Ultimately, Onward committed to a new Lease at The Watson Building as it offered competitive, highly specified and functional space right at the heart of the city centre next to Central Station. 12 Hanover Street was sold to Living Brick for £3.7m with a delayed completion to allow Onward to relocate. This price is a record figure on a per sq. ft. basis for a vacant building sale in Liverpool City Centre at circa £135 per sq. ft.