Corestate Capital Holding S.A.: CORESTATE acquires Royal Liver Building in Liverpool
DGAP-News: Corestate Capital Holding S.A.: CORESTATE acquires Royal Liver Building in Liverpool
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Acquisition
08.02.2017 / 08:30
The issuer is solely responsible for the content of this announcement.
CORESTATE acquires Royal Liver Building in Liverpool
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated real estate investment manager and co-investor based in Luxembourg, acquires the Royal Liver Building, a Grade A office building in Liverpool, UK. The asset, located at the world renowned UNESCO World Heritage Waterfront of Liverpool, is the landmark of Liverpool and belongs to the three graces of Liverpool. The asset was sold for GBP 48m by the Royal London Mutual Insurance Society.
The office building was extensively refurbished in 2008 to deliver a high quality business environment providing modern office space whilst retaining its original architectural features. Strong tenants include BESTINVEST, HSBC, Mott MacDonald, Pershing, Princess Limited and Universities Superannuation Scheme LTD.
Thomas Landschreiber, Chief Investment Officer of CORESTATE: “We will invest substantial funds in order to preserve and strengthen the landmark office building in the long-term. As the new owner and custodian of this iconic building, we appreciate its heritage and the importance to the people of Liverpool. This investment reflects our expertise in acquiring core premium quality assets.”
Stephanie Hacking, Fund Manager at Royal London Asset Management added: “It has been a huge honour to be involved in the sale of the Royal Liver Building. It is a unique property with a tremendous history and prestige. We were delighted to have received such considerable interest in the asset and delighted to have concluded the sale to CORESTATE who will no doubt be proud owners going forward.”
JLL and Addleshaw Goddard advised CORESTATE on the acquisition, CBRE and Pinsent Masons LLP advised Royal London Mutual Insurance Society on the sale.
Henryk Deter / Mirko Koch
Phone: +49 611 20585540 / firstname.lastname@example.org
Phone: +49 69 264867715 / Cell phone: +49 176 10430063 / email@example.com
About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is a real estate investment manager and co-investor with EUR 16bn* in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 26 offices including in Dusseldorf, Frankfurt, Madrid, Singapore and Zurich. The company employs over 390 people and is listed on the Frankfurt Stock Exchange. Further information is available at www.corestate-capital.com.
*The completion of the Hannover Leasing Group transaction is still subject to the conclusion of ownership control procedures by the Federal Financial Supervisory Authority, BaFin
This release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.