German fund linked to £130m+ acquisition of RBS HQ in Brindleyplace

GERMAN fund Verwaltungsgesellschaft für Versorgungswerke (VGV) has been strongly linked to the acquisition of RBS’s Brindleyplace headquarters in Birmingham in a deal worth £130m+.

According to reports in the property press, the building – currently owned by Tritax – is under offer to VGV, a German pension fund for medical professionals.

The reports suggest SG Commercial and GVA were instructed by Tritax, a fund manager, to seek offers in excess of £125m for the long leasehold interest for the 300,000 sq ft office complex at 7-10 Brindleyplace.

CBRE Global Investors is said to be representing VGV in the deal which would include 295,000 sq ft of office space let to Royal Bank of Scotland, the Sainsbury’s retail unit at 10 Brindleyplace and 35 apartments in 8 Brindleyplace.

Tritax purchased the Brindleyplace offices for £101m at the end of 2009.