Le mie ricette per la real estate communityPraxis, a fully vertically integrated UK property investment and management platform, and Veld Capital, a leading private credit specialist investor, are pleased to announce the acquisition of Brindleyplace in the heart of Birmingham city centre, UK, for £125 million.
The prime 14.9-acre canal side campus, acquired from HSBC Alternative Investments, is an iconic “work-live-play” location and is one of Birmingham’s most popular business and leisure destinations.
Developed by Argent in the early 2000s, the developer behind some of Britain’s most successful mixed-use locations including the King’s Cross Estate in London and One Piccadilly Gardens in Manchester, Brindleyplace is now a multi award-winning commercial campus, comprising several high-quality office-led buildings. The campus also has ground floor leisure space, a multi-storey car park, as well as a retail arcade, 4-star hotel, art gallery, aquarium and a leisure scheme, providing a broad and attractive range of amenities. The estate is currently 90% occupied, hosting blue-chip and local tenants like Deutsche Bank, Michael Page, Lloyds, Deloitte, Marsh, Lloyds, Q-Parks, Zizzi, Pret a Manger and Piccolino.
Under the previous ownership, the estate benefited from significant capital investment as well as the delivery of the new tram connection and the opening of the neighbouring Paradise development, which have been transformational for the vibrancy of the estate.
Birmingham is the economic and cultural powerhouse of the Midlands region and is firmly established as the UK’s second city, boasting the largest regional centre in the UK in both population and economic terms. Birmingham is experiencing unprecedented levels of investment and infrastructure improvement, including the high-speed railway project HS2, which is planned to link London to Birmingham in just 45 minutes by 2030.
Source : Veld Capital