Birmingham City Council has acquired 71,807sq ft of prime office and retail space in the heart of the city’s central business district from UK Commercial Property REIT (“UKCM”).
The £26,480,000 deal sees the country’s largest local authority and largest landowner of property in Birmingham, welcome 9 Colmore Row into its portfolio. The property comprises 71,807sq ft of high-quality office and retail accommodation across ten storeys with 64 car parking spaces, on the doorstep of Snow Hill railway station and the Midland Metro stop on Bull Street.
Situated in the heart of the city’s prestigious Colmore Business District (CBD), home to circa 500 companies employing up to 35,000 people, the site forms part of the ‘Area of Transformation’ within the Snow Hill Masterplan.
Building on the principles set out in Birmingham’s Future City Plan, the vision for Snow Hill seeks to maximise investment, development and regeneration opportunities within the district to enhance its quality and offer, leveraging its unrivalled connectivity and continued transformation.
Damian Lloyd, Investment Specialist and lead for Birmingham City Council property investment at Avison Young, said: “The opportunity presented by 9 Colmore Row, a high-quality and strategically located asset blending office and retail units in the heart of the city’s prominent central business district, perfectly aligns with Birmingham City Council’s property portfolio strategy, as well as its aspirations to provide an improved experience for people who work in and visit the city centre.”
