CBRE Investment Management, on behalf of West Midlands Pension Fund, has acquired 125 Colmore Row, a prime office building in Birmingham’s city centre.
125 Colmore Row comprises 150,000ft² of Grade A office accommodation spread across ground and eight upper storeys, as well as 66 basement car parking spaces over three levels. It has been occupied by Lloyds TSB Bank Plc since it was developed in 2001, with a lease in place until 2030. The building occupies a prime corner site within Birmingham’s premier business district and is set to benefit from wider factors that are attracting businesses to the city, including the HS2 project and the Paradise city-centre regeneration scheme.
Michael Roult, Fund Manager at CBRE Investment Management, said: “With occupiers including PwC,HSBC and Goldman Sachs all having demonstrated their commitment to Birmingham, high-quality office buildings in the UK’s second city are a strong investment prospect. Further infrastructure improvements and regeneration projects are making the city even more attractive for businesses and employees, with more people moving from London to Birmingham than any other city. 125 Colmore Row has strong fundamentals, with a great location, an attractive exterior and significant basement space. We see significant opportunities to enhance this asset further over the course of our ownership, updating the building and its facilities to match more closely the requirements of modern occupiers from a sustainability and wellness perspective.”
