Palace Capital acquires One Derby Square in Liverpool

Palace Capital has acquired the freehold interest of One Derby Square in Liverpool for £14m, reflecting a 6.75% net initial yield.

The property has a total net floor area of 70,000 sq ft, comprising six retail units and one leisure unit on the ground floor and 47,500 sq ft of offices across four further floors. It currently produces a net income of around £1m per annum and is 96% occupied by tenants including Pret a Manger, Tesco, Medicash, Reed Specialist Recruitment and Brook Street (UK).

While most of the property has been recently refurbished, opportunities remain for