Direct Line has bought the freehold to a central Leeds office block it occupies for £16.3m.
The 114,000 sq ft Direct Line House , on the Headrow, was bought from fixed charge receivers at KPMG.
Direct Line is understood to have seen off competition for the block from Karlin RE, Carisbrooke and DTZ Investment Management.
Total rent on the building stands at just over £2m annually, reflecting a rate of £14.40 per sq ft.
Direct Line was paying just over £2m pa in rent on the building and had 5.5 years left on its lease.
Knight Frank acted for KPMG; DTZ advised Direct Line.
chris.berkin@estatesgazette.com
