£21.6m paid for blocks in Eagle Court
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.