Birmingham office building snapped up for almost £30m

An office building in Birmingham city centre, home to Lloyds Bank, has been snapped up for almost £30m. The deal for the 78,000 sq ft 2 Brindleyplace is the first for Aver Property, a new partnership between Ergo Real Estate and NFU Mutual. The building, constructed in 1997, was acquired from Hansainvest for £29.25m, and is let to Lloyds Bank until March 2022 at a rent of £2m a year. The price shows a slight reduction in the building's value from when it was sold in November 2008 for £30.5m. Martin Jepson, co-founder of... For the full story register now for free or login below...
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