Deka Immobilien GmbH has acquired 10 Livery Street in Birmingham
from a fund managed by Signature Fund Management Limited for around
£22.25 million.
The 5,889.23 sq m (63,363 sq ft) Grade A freehold office
building is located in Birmingham's central business district and
is let in its entirety to Direct Line Insurance Plc for another
circa 10 years.
John Heaver, director at Savills, comments: "Deka's purchase of
Direct Line House in Birmingham is a return to this key regional
city after a five year absence and is another step towards them
building a portfolio of well let prime modern offices outside
London where they believe there are good opportunities with long
term growth potential."
Deka was advised by Savills and Simmons & Simmons, while
Signature Fund Management Limited was advised by DTZ/DTZ Sherry
FitzGerald and Jones Day.