AIB funds Green move for India Buildings

Allied Irish Bank has backed the acquisition by Dublin-based Green Property Company of India Buildings on Liverpool's Water Street.

The Manchester office of Jones Lang LaSalle advised Green on the deal with the building's owner, offshore fund Branchtown, part of the Atlas Group, registered in the British Virgin Islands.

Tenants at the 350,000 sq ft prized office asset hope the new owner will address ongoing complaints about services at the building. Key facilities including lifts have been out of work in recent weeks, causing inconvenience to occupiers including barristers' chambers and solicitors.

Branchtown, controlled by a secretive Greek shipping tycoon, acquired India Buildings in 2004 for £45m, then a record property transaction in Liverpool.

Keppie Massie and Hitchcock Wright & Partners are letting agents on the building. Mike Tapp and Tom Leader at Green are handling the asset management of India Buildings.

All parties declined to comment.

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