Forma has taken a £21m loan from Leumi to buy an office block in Liverpool city centre.
The specialist property lender, the British subsidiary of Israel’s biggest bank, is part-financing Forma’s deal to buy the 136,000 sq ft office at 5 St Paul’s Square.
View details of the deal on Radius >>
It will also support Forma’s plans to upgrade the asset and deliver high-quality, amenity-rich space for the occupiers.
Tenants include law firm DWF and Denholm Logistics.
Chris Taylor, UK chief executive at Forma, said: “We continue to progress our strategy of investing in high-quality offices in regional central business districts where active asset management strategies and inward investment into the physical real estate can drive outperformance. Liverpool is a promising city for repositioning existing assets to deliver best-in-class office space. With the development pipeline constrained by high build costs, we are delighted to acquire 5 St Paul’s where we can align our ESG investment plans with increasing tenant demand for grade-A stock in Liverpool’s city centre.”
Chris Stallard, relationship director at Leumi UK, said: “We have seen a marked increase in demand for premium office space over the past year with 91% of year-to-date take-up being of grade-A quality. Leumi UK has long been guided by a customer-first principle and we hope this deal will deepen our relationship with Forma.”
View more investment deals in the Liverpool office market >>
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