Birmingham office building snapped up for £3m

Connect House, an office building in Birmingham has been sold by Watling Real Estate for £3m on behalf of administrators from Alvarez & Marsal.

The sale to a local occupier was achieved through a marketing campaign conducted by Michael Denny and Mark Firmin, acting as joint administrators for Electruepart.

Situated on Small Heath Business Park, the long-leasehold property spans 42,638 sq ft and is located on a 3.8-acre site in a commercial area off the A45 dual carriageway.

Ben Holyhead, an associate at Watling Real Estate, said: “While the office market has faced various structural challenges in recent times, we received a good level of interest in the site from a variety of owner-occupiers, investors and developers, owing to the site’s strategic location, size and development potential.

“We are pleased to have secured a sale to a local occupier within an expedient timeframe for the benefit of the administration. The sale follows shortly on from our disposal of the substantial circa 200,000 sq ft Medco House, Bordesley Green Road, Birmingham, on behalf of the same administrators from Alvarez & Marsal.”

Eversheds provided legal advice to the administrators.