Corestate divests 35% stake in Liverpool building

Corestate Capital Holding, through its subsidiary Hannover Leasing, has sold its 35% stake in the Liver Building Co, the investment vehicle that owns the iconic Royal Liver Building in Liverpool. 

Royal Liver Building

The sale price was around £57 mln (€65 mln), and after paying off debts, Corestate will receive about €16 mln. 
This transaction is a significant step in Corestate's asset disposal program, which aims to repay all outstanding notes. 
The buyer is Princes Limited, a major UK food and beverage company based in Liverpool, which intends to use the building as its corporate headquarters.
The Grade I office property is located on Liverpool’s UNESCO World Heritage Waterfront.
Corestate Capital Holding originally acquired the Royal Liver Building in February 2017 for £48 mln (€55 mln) from the Royal London Mutual Insurance Society. 
The building, a landmark in Liverpool, underwent significant refurbishment in 2008 to offer modern office spaces while preserving its historic architecture. 
Frankfurt-listed Corestate Capital Holding, is specialized in investments within the real asset investment management industry. Its portfolio includes companies such as Hannover Leasing and STAM Europe.