Shore Capital’s Puma Property Fund has sold its Henry Cotton House office building on the Liverpool John Moores University campus for £12.1m.
The property, which is leased to the university until 2009, was bought by Puma in July 2003 for £8.2m.
Shore said the sale produced a net gain for the Puma Property Fund of about £3.7m and that the sales consideration was “considerably in excess” of its valuation at April 2004.
Puma Property was launched in May 2002 and is a closed-ended limited partnership with a seven-year life. The fund is a geared investment fund run by Shore Capital in conjunction with property specialist Dawnay Day.
Puma’s strategy is to invest in UK commercial property, principally outside of London and the South East.
References: EGi News 08/03/05
