Stoford Ventures has sold The Stock Exchange building in Birmingham for £7.9m, reflecting a 6.4% yield, to Capital Trust.
The sale follows the completion of a £1.8m refurbishment programme to upgrade the offices to provide grade A space.
The building at 33 Great Charles Street comprises 24,825 sq ft of offices over five storeys.
Scott Tyler, partner at Allsop, which advised Stoford, said: “The Stock Exchange building is a striking asset in a core city centre location with a long lease to an excellent covenant. The investment was of particular interest to private and overseas investors scouring the market for rare secure investments. The price reflects the scarcity of secure long leased stock.”
Knight Frank acted for Capital Trust
james.buckley@estatesgazette.com
To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.
