Acting for AXA Real Estate Investment Managers ("AXA Real Estate"), the leading real estate portfolio and asset manager in Europe*, with over €40 billion of assets under management as at June 2011, Mason Owen has sold the freehold interest in 17-19 Church Street, Liverpool.
Sold to Vabeld Real Estate for £7.15 million, the deal reflects a net initial yield of 5.75%. AXA Real Estate acted on behalf of Friends Life Assurance Society Ltd.
Situated in the heart of Liverpool city centre, 17-19 Church Street comprises 9,500 sqft of multi-level retail space, leased to Vodafone Ltd until June 2019.
* Source: INREV Survey 2010 published in June 2011.