Hines, the international real estate firm, has confirmed the sale of six buildings at Brindleyplace in Birmingham.
The buildings, which comprise 500,000 sq ft of mixed use space, have been acquired by HSBC Alternative Investments (HAIL) for an undisclosed price.
It was also confirmed that Hines UK will be retained as asset manager maintaining the firm’s seven year stewardship of Brindleyplace.
Raj Rajput, managing director of Hines UK, said: “We are proud to have managed Brindleyplace over the last seven years. It continues to be one of the most desirable office locations in Birmingham.”
The buildings form part of the Brindleyplace development which consists of well-designed buildings, tree-lined streets and public squares. The canal-side, mixed use scheme comprises 11 prime office buildings totaling over 1 million square feet, with occupiers including Deutsche Bank, GVA, Michael Page and Deloitte.
Hines UK has advised on more than four million square feet of projects acquired, completed or in the pipeline in the UK with a total UK portfolio under management valued at in excess of £2 billion. The company’s UK portfolio of assets under management includes The Centre Livingston, Cannon Place, One Bartholomew Lane, One Westferry, Sixty London and 25 Cabot Square.
CBRE and Colliers acted as advisors to Hines.