Two Snowhill in Birmingham city centre has been sold in an undisclosed deal.
M&G Real Estate has acquired the 14-storey tower off Colmore Row which is home to Wragge Lawrence Graham & Co and serviced office company i2 Office and will also
M&G , shortly after the announcement that 1,500 staff would be working from there, but both M&G and previous joint owners Hines and declined to comment on the deal at that time.
Hugo Henkes, director of investment management with M&G Real Estate, said today: "This acquisition comes at the right time to benefit from an increasing shortage of grade A office space in Birmingham and the resulting pressure on prime rents.
"The strength of the location will further be improved with the opening of the extended Metro route linking Snow Hill through to New Street Station."
Anthony Leonard, Hines º£½ÇÊÓƵ's managing director, added: "We are delighted to have had the opportunity to work with Ballymore to develop Two Snowhill.
"The success of the building has consolidated Snowhill's position as Birmingham's prime office pitch."
Property consultancy Colliers International advised M&G on the deal.
