A Birmingham city centre office building has been sold for £3.8m to a London-based education provider.
York House sits in a prominent location on the corner of Newhall Street and Great Charles Street Queensway. The purchaser, Planet Education Networks, plans to turn the six-storey, 22,175 sq ft building into an education facility.
It is partly let, producing an annual rental income of £136,462.
Planet Education Networks operates higher education facilities, including Elizabeth School of London, Zenith School of Studies, London Professional College and Victoria College of Art and Design.
James Mattin, managing director of Bond Wolfe, which arranged the sale, said: “This is a further example of the potential to reposition assets such as York House that may no longer fit the modern-day requirements for city centre office use, and greater value is placed on buildings like this by alternative use purchasers.”
York House is close to both Snow Hill and New Street railway stations.
Tees Law advised Planet Education Networks; Clark Brookes Turner Cary advised the undisclosed seller.
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