Colliers’ National Capital Markets team advises on One Brindleyplace acquisition
Colliers International’s National Capital Markets team has advised GLL Real Estate Partners GmbH on the off market acquisition of One Brindleyplace for an undisclosed sum.
The 6,430 sq m Class A office building, which has a long unexpired lease to Deutsche Bank, is one of a collection of buildings within the business and leisure estate of Brindleyplace, located in Birmingham city centre. GLL has acquired the building from London-based Trinova Real Estate, which acquired the virtual freehold of interest of the building in 2013 on behalf of its investor club Trinova Select from the British Airways Pension Fund. JLL represented Trinova Real Estate in the deal.
The sale comes just weeks after several other buildings on the Brindleyplace estate were brought to the open market. Colliers International is acting on behalf of joint venture partners, Hines and Lone Star, to dispose of their ownership, which includes Three, Four, Five, Six and Nine Brindleyplace. The portfolio totals 470,000 sq ft of Grade A offices accommodation alongside ground floor retail and leisure space, Brunswick Arcade, an 890 space multi-storey car park, health club and café.