Liquidators Hudson Weir have brought a prime mixed-use block on London’s Pall Mall, SW1, to market through Allsop and Clifton Agency.

Pall Investments, the owner of the 9,087 sq ft building at 40-41 Pall Mall, which is next door to the Army & Navy Club, was placed into voluntary liquidation last month.

Allsop and Clifton are seeking in excess for £14m for the property, which currently comprises retail, office and residential use, providing a gross income of £337,496 per annum.

The sale price reflects a capital value of £1,541 per sq ft. However, the block has potential for luxury residential conversion. Residential values in the area are around £3,000 per sq ft.

The property, which comprises two period style buildings that were reconfigured in the 1990s, also has a lapsed planning consent to add a further 1,500 sq ft of space, creating an enlarged shop on the ground floor, with four flats above. Full vacant possession of the site can be achieved within 15 months.

According to liquidation papers filed at Companies House, the property has more than £12.5m of debt secured against it, including £6.9m from bank Julius Baer & Co and £5m to a Mauritius-based business Maltan, which lists the same director, Rakesh Patel, as Pall Investments.