SevenCapital Acquires 70,000 Sq Ft Birmingham Office Building
SevenCapital has completed on another transaction with LaSalle Investment Management. The acquisition of a 16-storey office building on Hagley Road, Birmingham adds to our growing portfolio of projects around the Five Ways and Edgbaston areas which, to date, represents one of the largest investments by any one company in this part of the city.
Lyndon House is a multi-let office building extending to 71,186 sq ft and occupying 1.4 acres on Hagley Road and Highfield Road. The property is situated immediately opposite the entrance to Calthopre Estate’s flagship mixed New Garden Square project that will in due course deliver a new 100 bedroom hotel, some 600,000 Sq Ft of offices, 400 residential units and retail & leisure. Hagley Road is set to benefit from the arrival of the Metro stop which will be located in front of the respective properties. Plans for the repositioning of Lyndon House are being reviewed and feasibility studies will be completed in the new year.
Simon Robinson, Head of Midlands & South West Region at BNP Paribas Real Estate who acted for SevenCapital on the purchase commented: “Remarkably the transaction was agreed and concluded in less than 3 days, which can only serve to demonstrate SevenCapital’s ability to identify and execute complex real estate transactions in an unprecedented timescale”.
JLL represented LaSalle Investment Management in the disposal.
For more information, please contact SevenCapital directly via [email protected]
or call us on 0121 233 4433
This acquisition demonstrates our commitment to Birmingham, adding to an existing portfolio of activity which now extends to 3 million Sq Ft with a value of £850 million.
We are delivering over 3,000 new homes within the city centre and fully intend to reinvest in the wider region. Our recent acquisitions in Stirchley and Erdington represent a further £65m of development value and we are committed to delivering the much needed regeneration in these locations.