Mason Owen acts in £7m retail sale

PROPERTY agent Mason Owen has led the £7.15m sale of prime Liverpool retail space.

It has sold the freehold interest on the 9,500 sq ft site at 17-19 Church Street to Vabeld Real Estat,  representing a net initial yield of 5.75%.

The multi-level retail space is currently leased to Vodafone Ltd until June 2019.

Simon Bland, director at Liverpool-based Mason Owen, said: “The value of this transaction demonstrates Liverpool city centre’s ongoing appeal as an investment area, and the resulting yield is yet another example of why commercial property continues to be an attractive proposition for risk-averse investors.”

AXA Real Estate acted on behalf of Friends Life Assurance Society Ltd.