DTZ Investors purchase a mixed-used asset in Birmingham
DTZ Investors have acquired Innovation Court in central Birmingham from Hortons Estate in a £20.5m off-market transaction.
The property is a well-known mixed use freehold island site fronting Edmund Street. The asset is office-led, with tenants including Savills and construction company Mace. The asset also includes coffee shops, retail units, a bar and restaurant and a block of residential flats.
Christian Birrell of DTZ Investors commented ‘This opportunity represented a rare opportunity to acquire a regional asset in the heart of Birmingham’s office core. There are a number of asset management initiatives that we intend to complete in the short-term, including bringing back into use two vacant listed office buildings’.
BNP Paribas Real Estate acted for DTZ Investors and Hortons were unrepresented.