Charlie Desmond and Dan Kelly’s fledgling Brydell Partners has acquired 22 Gas Street and 35 Gas Street in Birmingham, signalling its first purchase since the pair formed the firm last year.
The two buildings are part let for circa £940,000 pa, with six years left to run on the lease. London-based Brydell paid vendor Cube Real Estate around £12m for the long leasehold of the buildings – a yield close to 8%
ITV occupies 20,000 sq ft in the 53,000 sq ft scheme.
The former Brockton Capital duo have been searching for investment opportunities for the past few months.
Charlie Desmond is the son of property entrepreneur Danny Desmond, the former Hunting Gate managing director and Bride Hall founder.
GBR Phoenix Beard and Tudor Toone represented vendor Cube Real Estate; ADS Real Estate advised Brydell Partners.
