London development firm swoops for historic Birmingham building
A London development and investment company has snapped up a landmark Birmingham building in a deal worth nearly £4m.
Kinrise has acquired the Citadel building for £3.89m from Lasalle Investment Management.
The Citadel in Corporation Street comprises 46,000 sq ft of office and retail space.
Kinrise was launched in 2015 and recently completed the redevelopment of 34 Boar Lane in Leeds.
Samuel Lawson Johnson of Kinrise said: “To be operating in Birmingham is an exciting next step for us, particularly in a building of such character and boasting such great potential.
“The Kinrise model welcomes all businesses: small, medium and large and Citadel’s layout is perfect for those looking for a single desk or a full floor, interconnected by a vast atrium for all to enjoy as a social space.”
George Aberdeen of Kinrise added: “Our aim at Kinrise is to turn iconic yet un-loved buildings into creative and inspiring work and cultural spaces. Through our acquisition of Citadel, we are proud to be able to usher a piece of Birmingham’s architectural heritage into a new era.”
Citadel is set to open to new tenants following refurbishment in 2021.
Existing tenants at include the restaurant Boston Tea Party and legal groups CAFCAS and Citadel Chambers.