Merseyside-based company and Chamber Member, Luxor Group have acquired the former Tyrers department store in St Helens.
Luxor will invest more than £1m to renovate the five-storey building, converting it into a mixture of luxury apartments above a ground floor retail space. Luxor hope that this available space will attract retailers and ultimately benefit St Helens town centre.
Paul Nicholson, Managing Director of Luxor, 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.”
Tyrers department store closed its doors last year after 128 years of trading and the iconic building has been a local landmark over the years. The development by Luxor will see the original façade of the building kept intact.
Paul explains: “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.”
Luxor started to acquire derelict buildings on the outskirts Liverpool city centre. It now has a large portfolio and is looking to expand outside of the city throughout Merseyside and the surrounding areas.
