Prominent Birmingham office block sold for £35m

The home of PwC in Birmingham has been sold for around £35m in a deal labelled as the biggest single-site purchase so far this year.

Kier Property, part of Kier Group, has bought 19 Cornwall Street from Standard Life Assurance.

19 Cornwall Street, within the Colmore Business District, has also recently welcomed Pinsent Masons, with the law firm taking the fourth floor earlier this year. It moved its business support unit into the 19,500 sq ft space from its previous home in The Wesleyan building.

The seven-storey building has 133,000 sq ft of space, with around 23,000 sq ft currently vacant.

Kier Property’s northern managing director Tom Gilman said: “This scheme will significantly strengthen our portfolio and activities in the West Midlands.

“We see the West Midlands as a key location for our expansion plans and we welcome further opportunities across all asset classes as well as joint venture opportunities.”

PwC, which has around 65,000 sq ft in the building, has already announced it is moving to the Paradise development in 2019.