Bradda Capital has exchanged contracts to acquire a prime office building at Trinity Park on the edge of Birmingham from LondonMetric Property Plc for €11.1m (£9.6m). The building, Trinity Central, comprises 25,250ft² of space let entirely to Beiersdorf, a leading supplier of skincare products, for its UK headquarters. Beiersdorf’s lease runs for a further seven years, and the rent is equivalent to €26.59 (£23) /ft².
Trinity Central achieved the coveted International WELL Building Institute gold rating in 2020, reflecting the quality of the building and its services as well as the tenant’s investment in its fit-out. It is located at Trinity Park, which is one of the UK’s best-connected regional out of town office parks, as it is one of the few locations to benefit from immediate access to the national motorway network via junction 6 of the M42, while being situated within walking distance of Birmingham International Railway Station and Birmingham Airport. Transport connections will be further enhanced with the arrival of HS2 due in 2026, which will be accessible via an automated people mover, 250m from the building.
David Phillips, managing director of Bradda Capital, said: “Trinity Central is a superb building in a very strong location. It is situated within the prime M42 office market, which is subject to strong tenant demand, restricted supply and robust rental growth. The acquisition is a great addition to the fund and reflects our confidence in the long-term future of offices, the economic growth of the Birmingham area, fuelled by improving infrastructure and the future plans for Trinity Park and the surrounding area”.