Direct Line House, a grade A office building in Birmingham city centre has been acquired for £25.1m by the Direct Line Group on a share deal basis.
DTZ’s Investment team advised Direct Line Group whilst Savills and CBRE represented the vendor, German investor Deka-S-PropertyFund No. 2 GmbH.
Located on 10 Livery Street, the six storey building was completed in 2001 and comprises 63,393 sq ft of grade A office space within the heart of Birmingham’s central business district.
The property is let on a full repairing and insuring lease to UK Insurance Limited for a term of 20 years from April 2001.
Nick Allan, Senior Director, Investment agency at DTZ commented: “We are delighted to have secured this building on behalf of a core client of DTZ as part of their corporate real estate strategy.”
