St Helens’ iconic Tyrers building has been bought by a developer in a deal which will see part of the Bridge Street site transformed into luxury apartments.
Merseyside-based Luxor Group say their plans will see one of the town’s most famous buildings brought back to life.
They will invest £1m renovating the building but the well-known exterior will be retained with developers revamping the rear of the building and adding decorative lighting.
The 15,000 sq. ft. building will be converted in to a mixture of one and two-bedroom luxury apartments on the upper floors while the famous basement and ground floor retail space will be retained, with Luxor already looking in to potential retailers that could benefit the town centre.
There has been speculation that budget retailers Primark are eyeing up setting up at the site.
The conversion of the building to create one and two-bedroom luxury apartments would aim to address the shortage of such accommodation in St Helens.
Paul Nicholson, managing director of Luxor Group, said: “We are proud to have an opportunity to save such an iconic building with so much heritage.
“Tyrers was an institution to the people of Merseyside and we are excited to bring the building back to life by creating functional living space and attracting a grade A tenant for the retail space.
“There was a real danger that the building could have laid empty for years to come. We are now starting to consider potential retail tenants to approach that would add value to the residents of St Helens.”
Luxor Group is a luxury development company which started acquiring derelict buildings in the outskirts of Liverpool city centre.
Paul added: “Since we started investing in the Kensington area of Liverpool we have seen a substantial regeneration which has been great for the local community and residents. With the support of St Helens Council we see a similar opportunity here in St Helens.
“We are constantly seeking opportunities to acquire beautiful old forgotten buildings to convert into affordable luxury homes. While many developers do not know how to sympathetically convert old buildings, we specialise in this area and have a track record of successful products throughout Liverpool.
“We are committed for the long term and will be investing over £1m in the transformation of the Tyrers Building. We are confident the conversion will benefit St Helens and its residents.”