Sony building changes hands for £4.3m

TELEREAL Trillium has sold Sony’s building in Liverpool to investment firm Karlin Real Estate for £4.3m.

The sale represents a net initial yield of 10.75%.



The three-storey purpose built block at Wavertree Business Park has 50,655 sq ft of office space on three acres of land.

It is let to Sony Computer Entertainment Europe, which agreed a new 10-year lease in May, for a passing rent of £500,000 a year.

Mark Kelly, director of disposals and development at Telereal Trillium, said: “This deal shows the value of a committed tenant. The recent lease renewal we negotiated with Sony meant we could offer the Sony building as a strong investment in a buoyant market.”



Finn and Company acted on behalf of Telereal Trillium.