Quartz Investments has sold its freehold investment in a 26,000 sq ft office building at Birmingham Business Park in an off market deal.
Advised by Birmingham independent commercial property agency KWB and FSP, Stratford-upon-Avon-based Quartz Investments sold 1320 Solihull Parkway, Birmingham Business Park, Birmingham, West Midlands, B37 7YB, to Threadneedle for £5.65 million. CBRE advised Threadneedle.
1320 Solihull Parkway is a modern, self-contained office building, recently comprehensively refurbished to Grade ‘A’ standard. It is fully let to Vector GB Limited and BCA Logistics who took a new 10 year lease on 20,774 sq ft of office space on the ground and first floor in August 2017, in a deal advised by KWB and JLL. Quartz Investments acquired the building in June 2016 and carried out a full refurbishment to attract a new tenant.
“The popularity of Birmingham Business Park as a key business location, and the lack of quality investment stock available at present, led CBRE to make an unsolicited approach on behalf of their client and we concluded the deal off market,” says Nigel Tripp, director of KWB.