Gupta Group buys former Carillion HQ

THE former head office building of collapsed construction group Carillion has been sold.

Private real estate fund Gupta Group has acquired the building in Wolverhampton, which was placed on the market in April with a £3 million price tag, for an undisclosed sum from a private investor.

The site, in Salop Street, was the headquarters of Carillion which collapsed into liquidation in January after struggling with debt and a huge pension deficit.

Brothers Ankush and Arjun Gupta now plan to refurbish the existing 38,000 sq ft space to provide grade A office accommodation for national and regional occupiers.

Gupta Group is a private family investment office founded more than 30 years ago with a portfolio spanning residential, commercial and industrial.

Ankush Gupta said: “Our investment approach enables us to move quickly and we are delighted therefore to have been able to respond to the opportunity and secure this key asset.”

Arjun Gupta added: “This is a high-yielding asset and at an attractive capital value which is fundamental to our investment objectives.”