Birmingham poised for major office deal
Press reports indicate that a major deal is about to go through on Birmingham’s Brindleyplace mixed-use estate, involving the sale of eight of its 11 office complexes.
It has been reported that Moorfield and Hines have lined up a £200m bid. The Birmingham Post quotes Gary Taylor, joint managing director of Argent, which manages the estate, as confirming that Argent has received an approach to acquire eight of the office properties in the estate.
“We are not in a position to confirm the identity of the potential purchaser, but we have put this offer to our investors for their consideration,” he added. Argent will continue to manage the 1.6m sq ft Brindleyplace estate if the deal does go through.
The Birmingham Post says the purchase is set to be completed in the next few days and would be the largest ever deal for Birmingham’s office investment market.
Earlier this month Drivers Jonas Deloitte relocated to Brindleyplace following its merger and at the time Gary Cardin, head of Drivers Jonas Deloitte Birmingham, said: “The recent relocation of the Institute of Directors to the estate has demonstrated what a commercial hub it has become within the city centre”.
