£21.6m paid for blocks in Ea­gle Court

Birmingham Post - - COMMERCIAL PROPERTY -

TWO of­fice build­ings near Birm­ing­ham Air­port have been bought for £21.6 mil­lion.

UK in­vest­ment fund Square­stone Growth has ac­quired the of­fice blocks on Ea­gle Court Busi­ness Park in Shel­don from Aviva In­vestors.

The deal rep­re­sents the fund’s largest ac­qui­si­tion to date and its first in the Birm­ing­ham area.

The build­ings, called Ea­gle Two and Ea­gle Three, com­prise mod­ern of­fice blocks to­talling 138,074 sq ft, to­gether with 593 park­ing spa­ces on a 6.4-acre site.

The blocks are let to ten­ants in­clud­ing Vir­gin Me­dia, Rexel and Gold­beck Con­struc­tion, with a fur­ther 13,300 sq ft cur­rently un­der of­fer. The build­ings serve as a re­gional head­quar­ters for Vir­gin Me­dia where it em­ploys more than 1,000 staff on site.

Char­lie Arden, ac­qui­si­tions man­ager at Square­stone Growth, said: “Mark­ing our largest trans­ac­tion, these as­sets are a sig­nif­i­cant ad­di­tion to our high-yield­ing re­gional port­fo­lio, com­ple­ment­ing our growth strat­egy to­wards £400 mil­lion.”

Prop­erty con­sul­tancy JLL acted on be­half of Square­stone Growth while CBRE rep­re­sented Aviva In­vestors.

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