Birmingham-based private property company Horton Estates has sold Innovation Court in Birmingham to DTZ Investors on behalf of the National Grid UK Pension Scheme for £20.5m.
The off-market deal sees a yield of circa 4.3%. The deal was agreed before Christmas and has now signed.
The mixed-use building comprises 45,000 sq ft of offices and is located on Edmund Street in Birmingham’s central business district. It is home to Savills and Mace, and has five retail units let to bar/restaurant Utopia, Urban Coffee, Clements & Church, Home and Benjamin Ryan Hair.
BNP Paribas advised Horton Estates.
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