Blend Property has acquired an office building in Liverpool’s historic Royal Albert Dock for around £11m.
The company has bought the grade I-listed Atlantic Pavilion from Tellon Capital at a net initial yield of about 7.5%.
The 88,934 sq ft building is let to Shop Direct Holdings for a further five years and occupied by its subsidiary Yodel Delivery at a rent of £900,000 a year – or £10.26/sq ft.
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