ACRE Capital have sold 3, 4, 5, 6, and 9 Brindleyplace, Birmingham, totalling c810,000 sq ft to Praxis Real Estate on behalf of our client Hines. The deal price was £125 million which represents the largest UK regional city office deal in 18 months.
The wider Brindleyplace Campus totals 14.9 acres and was developed in the early 2000s by Argent. It incorporates ground floor leisure space, a long income multi-storey car park, as well as a retail arcade, a hotel, health & fitness club, art gallery and an aquarium. The estate is 90% occupied with tenants including Deutsche Bank, Michael Page, Lloyds, Deloitte, Marsh, Q-Park, Zizzi, Pret a Manger and Piccolino.
Brindleyplace is one of the largest office-led mixed-use estates in the UK and offers an exciting opportunity to reposition and asset manage a highly successful campus.
Property Type: Office-led campus
Transaction Type: Sale