CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated real estate investment manager and co-investor based in Luxembourg, has exchanged contracts to acquire the Royal Liver Building, a Grade A office building in Liverpool, UK. The asset, located on the world renowned UNESCO World Heritage Waterfront, is Liverpool’s most recognisable landmark and is one of the world famous ‘Three Graces’. The asset was sold for GBP £48m. This news follows the announcement last October that the building’s longstanding owner, Royal London Mutual Insurance Society, had appointed CBRE to sell the property.

It is the first time that this world-renowned Grade 1 Listed property has appeared on the market since its grand opening in 1911, as the headquarters of the Royal Liver Assurance Group.

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. Occupiers in the building include BESTINVEST, HSBC, Mott MacDonald, Pershing, Princes Foods and Universities Superannuation Scheme.

Commenting on the purchase of the Royal Liver Building, Thomas Landschreiber, Chief Investment Officer of CORESTATE:

“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.”

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 very pleased to have concluded the sale to CORESTATE who will no doubt be proud owners going forward. ”

Executive Director at CBRE in Manchester, Colin Thomasson
It is rare to see an asset like the Royal Liver Building come to market and advising on this sale has been a huge privilege. As we anticipated, the property attracted significant interest from investors across the world and we are delighted to have concluded the sale with CORESTATE. Liverpool is experiencing a resurgence, with significant activity across the City, and this investment from a respected International Investor is yet another sign of confidence in the future of the City of Liverpool.
Executive Director at CBRE in Manchester, Colin Thomasson

JLL and Addleshaw Goddard advised CORESTATE on the acquisition and CBRE and Pinsent Masons LLP advised Royal London Mutual Insurance Society on the sale.