A residential tower block in Liverpool has been purchased by the Pervaiz Naviede Family Trust from its administrators for £3m.
Heysmoor Heights, a 16-storey tower block in the Sefton Park area, comprises 63 recently refurbished one and two-bed apartments, 49 secure parking spaces and the freehold to the building.
The development will be managed by LPC Living, the regeneration developer owned by the trust. It marks the company's return to high-rise schemes after more than six years.
A proportion of the units purchased were let at the time of purchase with the remaining properties to be marketed by LPC Living's in-house agents, Abode Residential.
Heysmoor Heights is on Greenheys Road, Liverpool overlooking Princes Park. Other acquisitions by the Trust this year were located in Burnley, Cambridge and Manchester.
The Manchester office of Gateley acted on behalf of the buyer. The agent was Eddisons.