Direct Line House sold at 6% yield

Michael Hunt

Invesco has sold the 58,986 sq ft Direct Line House in Manchester city centre to Aviva Investors.

The building is let to Direct Line, which still has twelve years left on its lease, and was bought by Aviva Investors for about £23m, which is believed to represent a net initial yield of around 6%.

NB Real Estate advised Aviva and Jones Lang LaSalle advised Invesco.

Direct Line House is located at 17 Quay Street in the city centre.

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