Aviva has been forced to swallow a £27m loss on the sale of the Manchester Corn Exchange.
The former market hall, which is now a restaurant and leisure venue with an aparthotel on the upper floors, was sold to a Middle Eastern private investor for £40m.
It had been owned since 2005 by Aviva, which paid about £67m.
The insurer also spent £30m clearing out the old retail units and converting the interior to a hotel, bar and restaurants, including Pizza Express and Zizzi’s.
Aviva put the building up for sale last summer with a guide price of close to £43m
