Legal & General Property has put the freehold interest of 46,220 sq m (497,524 sq ft) City Centre House in Birmingham on the market at £80m.
The retail element of the scheme, which fronts New Street and High Street, is let to BHS, Boots, WH Smith, Wallis, Sears, Burton and C&J Clark. The 14,653 sq m (157,669 sq ft) offices are mostly let to the Department of the Environment.
Property director Stephen Mundy said the sale proceeds would be redeployed in L&G’s retail development and refurbishment programmes.
Projects are underway at Bracknell, Oxford Street, Middlesborough, Preston and Warrington. Refurbishments at Birkenhead and Eastbourne have recently been completed. Retail park developments are in progress in Reading, Bolton and Norwich.
EGi News 20/10/97
