The Ivy to open restaurant on Castle Street after £1.7m revamp of Grade I listed building
and on Freeview 262 or Freely 565
A bridging loan of nearly £1.7m has been given to property investors hoping to bring luxury restaurant chain The Ivy to Liverpool.
Provided by property lender Together, alongside Watts Commercial Finance, the six figure loan will be used by JSM Property Group to support the change of use of Liverpool’s former Bank of England building, on Castle Street. Originally constructed between 1845 and 1848 by architect Charles Robert Cockrell, the Grade I- listed landmark has laid dormant for years but is now on course to be The Ivy’s third North West venue. Plans were submitted by JSM Property Group in 2022 to convert the ground floor of the four storey building into a restaurant and bar, along with commercial kitchens. Signed off by Liverpool Council’s planning committee last August, Troia Restaurants secured planning permission earlier this year to bring the much-loved Ivy brand to the city.
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According to the planning documents, the basement level will provide storage, office, staff break and changing spaces, while the first floor is to be used for customer toilets. A new fabric awning embossed with The Ivy name will be installed, alongside a brass back lit sign and four planters. A free standing menu sign will also be situated outside the building.
Marc Goldberg, CEO at Together said: “We have seen so many iconic properties across the UK sitting empty and disused, and we are delighted to have been able to support the conversion of the beautiful Bank of England into a site for The Ivy.
“We recently conducted research that found there was currently 1.55million properties sat derelict in England and Wales, and we hope to see more developers taking advantage of these opportunities to bring such properties back to life. Partnering with Watts to help JSM Property Group has been excellent, and we hope to continue working together on more exciting projects in the future.”
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