A fund advised by pan-European real estate investment manager Tristan Capital Partners has acquired the landmark mixed-use Fort Dunlop building near Birmingham from award winning regeneration company Urban Splash and The Pears Group in an off‐market transaction.
European Property Investors Special Opportunities 3 (EPISO3) purchased the 375,000 ft² (approx. 34,800 m²) building located close to the M6 motorway, five miles northeast of central Birmingham and 10 miles from the city’s airport. The property provides approx. 300,000 ft² (approx. 27,800 m²) of grade-A office accommodation, 40,000 ft² (approx. 3,700 m²) of retail and leisure space, a 100 bedroom hotel plus 1,100 car parking spaces. The property is currently leased to 48 tenants including Inspired Thinking Group, Capita, Midland Newspapers and Regus.
Peter Mather, Managing Director at Tristan Capital, said: “Fort Dunlop offers flexible grade-A office space to a wide range of tenants attracted to its ideal location on the key Midlands corridor of the M6 motorway. This iconic building provides many onsite amenities for tenants and visitors alike. Its purchase reflects the attractive opportunities that we see for well located grade-A assets in the main regional cities of the UK and follows our investment in central Manchester in March.”
Tom Bloxham MBE Chairman of Urban Splash said “We are very proud of the job we have done at Fort Dunlop. This is a project we’ve taken from an unloved wreck to a true icon of regeneration, which we’ve been incredibly pleased to have acquired, built, marketed, let and now sell. We believe that our work is now complete and are pleased to be passing it onto Tristan so we can concentrate on our exciting new development pipeline."