Talks under way over sale of Brindleyplace

INVESTORS are compiling a bid to buy eight of the 11 office complexes on Brindleyplace in Birmingham.

The mixed-use estate is owned by a team of investors called the Brindleyplace Limited Partnership apart from Eleven which was developed and is owned by Argent.

The identity of the investors has not been confirmed but reports suggest property firms Moorfield and Hines have joined forces to table a £200m bid.

The purchase is expected to go through within the next few days.

Gary Taylor, joint managing director of Argent (UK Developments) said: “We are in discussions with investors in The Brindleyplace Limited Partnership, regarding the possible sale of properties at Brindleyplace, excluding Eleven Brindleyplace, the latest development to be completed by Argent.

“We have received an approach to acquire the eight properties owned by the Limited Partnership.

“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.

“Argent will continue to manage the estate on behalf of the new owners.

“We have been involved with Brindleyplace for the past 17 years and during this time the estate has matured into probably the best mixed use environment anywhere in the UK.”