National Mutual has bought the freehold of 15 Parker Street in Liverpool from Legal & General for £16.75m, reflecting a net initial yield of 6.49%
The acquisition is one of the largest retail investment deals in the region this year. The 12,449 sq m (134,000 sq ft) prime building is currently let to Tesco Metro and TK Maxx. Tesco pays a rent of £1.15m pa and has 18 years remaining on its lease.
Matthews & Goodman represented National Mutual, while Jones Lang LaSalle acted for the vendor.
EGi News 26/09/00
