Sony’s Wavertree base sold

Telereal Trillium has sold the 50,655 sq ft Sony Building in Liverpool's Wavertree Technology Park to Karlin Real Estate for £4.396m, representing a net initial yield of 10.75%.

The three-storey purpose-built office building on three acres has been occupied by Sony since its completion in 1997.

Sony Building is let in its entirety to Sony Computer Entertainment Europe for a passing rent of £500,000 a year. Telereal Trillium completed a re-geared 10 year lease with Sony in May 2014.

Mark Kelly, director of disposals and development at Telereal Trillium, said: "This deal shows the value of a committed tenant. The recent lease renewal we negotiated with Sony meant we could offer the Sony Building as a strong investment in a buoyant market."

Finn & Company acted on behalf of Telereal Trillium.

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