Nurton Developments is believed to be selling its biggest asset in Birmingham via CBRE.
The Birmingham-based private developer is looking for a buyer for Two Colmore Square and Cannon House block located on the Priory Queensway and Colmore Circus Queensway in the city’s Colmore Business District. The 158,000 sq ft block is rumoured to have a price tag of circa £105m.
The sale comes as the scheme is almost completely let, with recent deals to engineering company Jacobs, and a lease extension and expansion to Swedish bank Handelsbanken which increased its offices at Two Colmore Square by 40% and signed a new seven-year lease on the space last month. Other tenants include law firm Shoosmiths, Vax, Sainsbury’s Snow & Rock and TSB.
Two Colmore Square was extensively refurbished in 2009 by Nurton. The building was formerly known as Priory House and is linked to Cannon House.
Nurton acquired the building in November 2007 for £43.25m.
Nurton Developments and CBRE were unavailable for comment.
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