Developer in £13m swoop for Solihull office campus
Hillview Real Estate, the regional office investor, has sold an office campus on the edge of Birmingham to Derbyshire-based Clowes Developments for £13.1m.
The campus is 2620-2650 Kings Court, which is made up of six self-contained office buildings, totalling 52,373 sq ft, at Birmingham Business Park.
It was acquired by Hilllview in 2020 for Hillview Partners Property Fund III, its £300m value-add regional real estate fund.
Nadav Livni, founder of Hillview Group and fund manager of Hillview Real Estate, said: “This sale follows the successful completion of our business plan for the asset and provides us with equity for reinvestment into more active opportunities. It has generated an excellent return for the fund and corroborates our ESG investment strategy of repositioning carefully selected properties through active asset management”.
Robert Hepwood, director at Clowes Developments, said: “We are pleased to complete the acquisition of 2620-2650 Kings Court at Birmingham Business Park. Adding these properties to our portfolio will further complement our existing holdings across the Midlands”.
Hillview was advised by CBRE and Clowes Developments was advised by Holt Commercial.