Bruntwood snaps up Centre City for £20m

PROPERTY company Bruntwood has exchanged contracts to purchase the Centre City office building in Hill Street, Birmingham, for £19.7m.

The deal, predicted in TheBusinessDesk.com earlier this month, provides Bruntwood with a third central Birmingham office scheme. It already owns the McLaren and Cornwall buildings.

Bruntwood’s development Director Peter Crowther said: “The acquisition of Centre City is fantastic news for Bruntwood in Birmingham. We have been in the market for some time looking for the right opportunity to expand our flexible customer-focused offer and Centre City will allow us to do just that.”

The 20-storey 208,000 sq ft building with 206 car parking spaces is already home to Legal & General and Ofwat and provides a range of flexible office space.

The building currently has 25,000 sq ft to let which is in the process of being refurbished. Bruntwood plans to invest a total of £4.675m into the refurbishment and development of Centre City which will include a complete entrance and new reception scheme in 2012.

Crowther added: “Centre City will enhance our presence in the marketplace and reflects our long-term plans for growth within the city.”