Sheffield’s Telephone House snapped up in £4m deal

TWO units at Telephone House in Sheffield have been sold in a £4m deal.

The property underwent a major £35m residential renovation last year to create 347 apartments.

Radcliff Property, in which listed company Ace Liberty & Stone has a 38% shareholding, completed the sale of units one and two at the site.

This follows the sale of the Tower and units three and four of the House for £4.1m in March last year.

Ace is expected to receive £2.2 million from the transaction and a total profit of £456,000 on the investment originally made in Telephone house.

Ivan Minter, finance director of Ace Liberty & Stone commented: “This sale completes the successful transition from purchase to profit of Telephone House.

“Ace Liberty & Stone actively seeks investment opportunities that deliver a steady and reliable return in commercial property across the UK and this sale demonstrates our expertise in identifying the right properties at the right time.

“Our increasing portfolio exhibits the diverse locations and tenants of our properties, highlighting the vast scope for investment going forward.”