MCR Property Group has completed the off-market purchase of Birmingham serviced office complex, Lonsdale House, which was advertised at a guide price of £3.5 million.
The prominent 1960s block, located at 52 Blucher Street, comprises 33,000 sq. ft. of office space over five floors and is situated adjacent to Mailbox Birmingham, the city’s flagship upmarket retail outlet.
Lonsdale House is fully let, with current occupancies expected to end in December 2018.
Iain Stott, of MCR Property Group, commented: “Lonsdale House adds to our strong commercial portfolio of more than 85 key assets, including over 30 office developments, 3 million sq. ft. of industrial space, a number of hotels and an airport.”
MCR Property Group noted that The Business Development Plan 2031, set out by Birmingham City Council in January 2017, forecasts the city’s population to grow by 150,000 by 2031.
Iain continued: “A growing population and increased confidence from government, as reflected by the Midlands Engine agenda, means Birmingham is undergoing significant transformation. For this reason, the city is naturally a primary investment location for us.
“Lonsdale House adds to our presence in the city, including holdings such as Cobalt Square and Monaco House, which has gone into planning to deliver more than 1,000 new homes for rent.
“Birmingham New Street station, some 350 yards from Lonsdale House, was a major catalyst for our investment – excellent transport links makes Birmingham a commuter hub, attracting world-renowned businesses to the area as a result.”
MCR Property Group secured the site from vendor London and Scottish.
To enquire regarding further purchase opportunities contact the MCR team by emailing Iain Stott firstname.lastname@example.org or 0161 274 3330.
Jan 23rd, 2018