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Manchester, 8 February 2017 – The capital markets team at JLL in the North West has advised Corestate Capital Holding on the acquisition of one of the North’s most iconic buildings, Liverpool’s Royal Liver Building, for £48 million.The Luxembourg-based real estate investment manager has acquired the Grade I Listed building on Liverpool’s World Heritage waterfront site from Royal London Mutual Insurance Society, after it was put up for sale for the first time in its 100-year history in October 2016. The building was Europe’s tallest when it opened its doors in 1911 and today houses occupiers including Bestinvest, HSBC, Princes Foods and the Universities Superannuation Scheme.The JLL team, led by director James Porteous, alongside Addleshaw Goddard, advised Corestate through the acquisition. James said: “It’s rare that such an historic building comes to market and Corestate’s move sees it become the owner of one of the most recognisable and prestigious real estate assets in the country, with quality tenants to match.”Thomas Landschreiber, chief investment officer of Corestate, said: "As the new owner and custodian of this iconic building, we appreciate its heritage and importance to the people of Liverpool."This investment reflects our expertise in acquiring premium-quality property assets and we intend to invest substantial funds in order to preserve and strengthen this landmark office building over the long-term."
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