Liverpool's famous Passport Office building has been sold in a deal worth nearly £40 million.
Palm Capital has sold the 136,000 sq ft 1010 Old Hall Street building to London-based investor Priory RE.
The deal, first reported by Place North West, is understood to have come in at £39 million.
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The building is well known for housing the HM Passport Office and the UK's Visa and Immigration Department, which together occupy 84,500 sq ft of the building in Liverpool's business district - accounting for 64% of the total floor space.
The government had signed a 10-year-lease extension back in 2020, which included a break after five years.
Place reports that in order to facilitate Priory RE’s £39m acquisition, the HM Passport Office lease was amended with the break removed.
The remaining three floors of the building are occupied by Diligenta Group, a subsidiary of steel giants Tata.
101 Old Hall Street had been marketed with a £40m valuation in 2020.
The following summer Priory RE expressed an interest in the building.
Palm Capital had bought the property in October 2018 from investment manager Warburg HIH Invest Real Estate for an undisclosed sum.
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