Kennedy Tower sold to commercial property group

COMMERCIAL property company Bruntwood has purchased its third building in Birmingham city centre – Kennedy Tower in Snow Hill Plaza.

Also known as 1 Snow Hill Plaza, the 72-metre high building was completed in the early 1970s but its previous owners Kenmore Property Group went into administration in November last year.

Legals and contract negotiations have been ongoing for over two months with contracts finally exchanged on the deal last yesterday afternoon.

Bruntwood, which also owns Cornwall Buildings and Mclaren in Birmingham city centre, issued a brief statement on the purchase.

It said: “Commercial property company Bruntwood has purchased Kennedy Tower in Birmingham city centre for an undisclosed amount.

“Kennedy Tower is located in Birmingham’s Snow Hill area.

“Cobbett’s were appointed as legal advisors and Knight Frank acted on Bruntwood’s behalf.”

Kennedy Tower is 20 storeys tall and 72,000 sq ft in size and was placed on the market by administrators Grant Thornton in March.

The company appointed agent CB Richard Ellis in January to advise on the future of the No 1 Snow Hill Plaza development around Kennedy Tower.

The proposed development opposite Snow Hill Station was set to be one of the city’s flagship projects.

Planning consent had previously been given on the site for a 450,000 sq ft mixed-use development including a 29-storey office tower which would have been the country’s biggest outside London.