Princes purchases iconic Royal Liver Building
UK food and drink group Princes has purchased the historic Royal Liver Building (RLB) in Liverpool as part of a GBP 60 million investment.
The company – part of NewPrinces Group (formerly Newlat Food – the Italian company listed in Milan) said the investment forms a key part of a broader GBP 83 million real estate plan that also includes the Cross Green facility in Leeds (GBP 23 million), underlining the group’s long-term commitment to the UK.
Princes, which includes the Princes brand that amongst other things produces a range of canned and convenient seafood products, said this “significant milestone” underscores its commitment to its Liverpool roots and is a “bold and confident step” in its long-term growth plan.
The Grade-I listed Royal Liver Building stands as one of Liverpool’s most recognisable landmarks, symbolising the city’s maritime and cultural significance for over a century.
Princes plans to expand its presence within the building, using it not only as a corporate headquarters but also as a multi-purpose venue for events, collaboration and public engagement. It has confirmed that all operations and tenant arrangements at the Royal Liver Building will remain unchanged with colleagues and partners assured of no immediate modifications to the site.
“Liverpool is an integral part of our heritage and future. Securing the Royal Liver Building reflects our commitment to this great city, our people, and sustainable success. The Royal Liver Building is an enduring symbol of Liverpool, and it’s an honour for Princes to call it our home,” Princes CEO Simon Harrison said.
As one of the UK’s largest food manufacturing businesses, Princes operates 10 sites across the UK employing almost 3,000 people. The business recently announced a campaign to champion UK food manufacturing. Many of its products will soon receive a “UKM” stamp of approval, signifying products made in UK factories and the contribution made to local manufacturing and the UK economy.
According to Princes, the acquisition ensures several key benefits for the business and its stakeholders. By eliminating rental costs, it will strengthen its financial foundations, creating an asset that adds security to its future operations.
“Supporting businesses that invest in the UK’s communities is at the heart of what we do. We are delighted to have provided financing to Princes to secure this historical landmark in the city it was founded in, as well as an operational facility in Leeds,” HSBC UK Head of Commercial Banking Stuart Tait said.
