Creston Land & Estates has bought Orleans House on Edmund Street in Liverpool from AXA Sun Life for £2.1m. The deal reflects a net initial yield of 16%.
The 4,877 sq m (52,500 sq ft) multilet offices produce an annual rental income of £374,000. Tenants include Royal & Sun Alliance, Legal & General, Fenchurch Group, Halifax Estate Agency and Barclays Bank.
Anthony Lipton & Partners acted for Creston and Nelson Bakewell represented AXA.
EGi News 23/08/99
