Mixed-use city centre building sold in £3.3m deal

A retail and office complex in Birmingham city centre has been sold in a £3.3m deal.

The building at 34-36 Bennetts Hill and 38 Waterloo Street – home to Marstons, food and drink retailer AF Blakemore and handmade food specialists Philpotts – has been sold to a private pension fund represented by Bromwich Hardy partner Tom Bromwich.

Bromwich said: “Birmingham is being transformed by record levels of development and is now a highly attractive investment proposition, with a regional economy worth some £110bn and an enhanced profile both nationally and internationally.

“There is still a lack of quality office stock in the city which is helping to drive a strong surge in demand and also contributing to ongoing rental growth, forecast to continue for at least the next five years.

“This property represented an ideal opportunity for our client with its prime city centre location and we are delighted to have secured it for them.”

The sale, on behalf of the family trust freeholder and long leaseholder City and Provincial Equity Partners respectively, was handled by Sampson Moore and Knight Frank.