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.
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
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