Shelborn Asset Management has sold the historic Liverpool office building, Exchange Flags, to Ashtrom Properties UK for £68m.
Ashtrom Properties UK has scooped the 359,558 sq ft building, located in the city centre, at a net yield of 7.67%.
The building compromises 313,263 sq ft office space, 27,980 sq ft of retail and leisure accommodation and an 18,315 sq ft museum.
Current tenants at the Grade II listed building include The Secretary of State for Defence, Brabners LLP, Jackson Canter, Regus, DLA Piper and Brookes Bell LLP.
Guy Lewinsohn, chief executive of Ashtrom Properties UK, said: “Exchange Flags is an outstanding property and fittingly marks our debut acquisition in the UK. We see a bright future for the Liverpool commercial office market and plan to acquire more properties of similar characteristics as we continue to grow our portfolio in the UK.”
Knight Frank represented Shelborn Asset Management. Parkdales and Mason Owen represented Ashtrom Properties UK.
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