Direct Line Group has acquired its base in Birmingham city centre for £25.1 million.
The grade A office building at 10 Livery Street, known as Direct Line House, has been acquired on a share deal basis from German investor Deka-S-PropertyFund No. 2.
The six-storey building in the was completed in 2001 and comprises 63,393 sq ft of office space and is let on a full repairing and insuring lease to 海角视频 Insurance Ltd for a term of 20 years from April 2001.
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The investment team at property consultancy advised Direct Line Group and and represented the vendor.
Nick Allan, senior director in DTZ's investment agency team, said: "We are delighted to have secured this building on behalf of a core client of DTZ as part of their corporate real estate strategy."