Warburg-HIH Invest Real Estate (Warburg-HIH Invest) has announced the sale of an office property in Liverpool to real estate private equity firm Palm Capital for an undisclosed amount.
The building at 101 Old Hall Street was developed in 2003 and provides 12,500 m2 of gross lettable space. It is fully let to several tenants including HM Passport Office Liverpool and the business process service consultancy Diligenta.
The transaction marks the disposal of the final asset in the portfolio of one separate asset pool, Warburg-HIH Invest said. The vendor was advised by TH Real Estate during the sales process.
'We moved ahead with the sale because improvements would have required a time period of several years,' said Andreas Schultz, managing director at Warburg-HIH Invest. 'The currently positive market environment made it possible to get an adequate price for it.'
