French investor swoops for Exchange Buildings in £23m deal

Birmingham’s Exchange Buildings have been acquired by a French investor in a £23m deal.

CORUM has purchased the landmark site from Orchard Street, which comprises four retail units of 27,072 sq ft, a 140-bed Premier Inn hotel, rooftop telecoms and 37 basement car parking spaces.

With a base rent of £143k per year, the Exchange Buildings have HSBC’s only Birmingham city centre presence, a Mcdonalds Restaurant, and a Greggs & Baguette World.

It’s held on a long leasehold from the Governors of the Schools of King Edward the Sixth in Birmingham, for a term of 200 years from 25th March 2015.

Green & Partners investment team advised CORUM and Knight Frank acted for the vendor, Orchard Street Investment Management.