Brindleyplace building bought for £38m

Real estate investor Blue Noble has bought 11 Brindleyplace for £37.7m in the latest multimillion-pound office deal in Birmingham.

It follows on from Gulf Islamic Investment’s £140m acquisition of the Lewis Building that was announced earlier this week, while 2 Brindleyplace was bought by Aver Property for nearly £30m in February.

Brindleyplace is a large mixed-use development in Birmingham city centre and is home to financial heavyweights including Lloyds Bank and Deutsche Bank.

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Number 11 has been owned by Benson Elliot since 2014, when it bought it from developers Argent for an undisclosed sum.

The building is an 108,000 sq ft office development that is around three-quarters full, with tenants including Colliers, Friend LLP and Global Radio.

Its new owner Blue Noble invests in property across Europe and provides real estate investment management with headquarters in London.