Forma snaps up Liverpool’s No5 St Paul’s SquareJune 10, 2022
The Israeli investor’s acquisition of the 136,000 sq ft office marks the company’s first foray into England.
European fund manager Forma Real Estate has bought No5 St Paul’s Square in Liverpool from Aberdeen for around £35m. The deal reflects a net initial yield of 6.5%.
Occupiers within the building include DWF, which occupies 42,000 sq ft across three floors, Denholm Logistics Group and Hays Recruitment.
The nine-storey building, which completed in 2008 and features 16,000 sq ft of ground floor retail space, currently generates an annual rental income of £2.4m.
“The purchase is in line with our strategy to acquire high quality, central business district, income-producing assets,” said Chris Taylor, Forma’s UK chief executive.
Worthington Owen advised on the acquisition of No5 St Paul’s Square and have also been retained as the building’s letting agent.