Palmer Capital has invested £30m in a regional UK office complex on behalf of a Middle Eastern investor.

The Skyways House properties in Liverpool traded at a yield of close to 7%.

Palmer Capital said the Middle Eastern client has “significant capacity” for similar projects. 

Charles Allen, acquisition director at Palmer Capital, said: “We believe with post-Brexit price adjustments, a favourable currency position, low cost of debt and with our investors having a long-term view on the UK real estate market it presents a compelling opportunity.”

The asset includes Skyways House, a 115,982sqft office building, and Skyways 2, a 69,339sqft purpose-built block.

A stand-alone 8,994sqft data centre is also part of the complex.

The asset is fully let on a 20-year lease to online retailer Shop Direct Home Shopping and is the headquarters for the Shop Direct Group.

Rupert Sheldon, fund manager at Palmer Capital, said: “We are thrilled to have secured a post-Brexit acquisition of this nature which perfectly reflects our investment strategy of investing in high quality buildings, on long leases with fixed uplifts, let to strong covenants to deliver our investors attractive, low-risk income returns.”