A collection of three Birmingham offices has been sold by St Modwen to an unnamed UK fund manager for £7.3 million.
Situated on the St Modwen owned 18-acre Quinton Business Park, the self-contained offices total more than 50,000 sq ft.
Senior development surveyor at St Modwen, Peter Rudd, commented: “The strong investor market, which has continued into 2016, has assisted the successful disposal of the remaining 50,000 sq ft of prime office space at Quinton Business Park, reflecting the underlying strength of the Midlands’ office market.”
Mr Rudd says that within the site, St Modwen has retained ownership on five acres of development land, which is in place for almost 85,000 sq ft of office space, adding “we are currently reviewing our options for this final phase of the development.”
Surveyor at Colliers, Callum Wing, concludes: “Quinton has become firmly established as a thriving location for business and continues to have strong appeal, as this latest sale testifies.”
Colliers International acted on behalf of St Modwen while BNP Paribas Real Estate represented the purchaser.
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