Beetham disposal marks latest Three 60 investment

The Beetham Organisation has sold office building Beetham Court in Liverpool city centre to Three 60 Property Investors for £2.76m.

The refurbishment of the 17,268 sq ft Beetham Court, on the junction of Tithebarn Street and Pall Mall, into offices on four floors in 1997 was one of Beetham's first city centre schemes before it went on to build towers in Manchester, Liverpool and Birmingham.

The acquisition by Liverpool-based Three 60 represents a 6% net initial yield and 7.5% reversionary yield. The buyer is a subsidiary of the Plus Housing Group of housing associations.

Beetham Court was built as a hotel in 1765. Currently, it is let in its entirety to Merseyside Passenger Transport Services until May 2013.

King Sturge advised Three 60.

Earlier in December, Three 60 bought the Vista development at St David's Park, Flintshire for £6.2m and a two-storey office building at Lingley Mere Business Park, Warrington for £2.75m.

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