A prominent office block in the heart of Birmingham's business district has been sold for £21 million.
A joint venture of London-based Hillview Real Estate and Israeli group Shlomo has bought Edmund Gardens in Edmund Street from DTZ Investors.
It is the second time they have teamed up to buy a property, following a deal in the summer to acquire a site in Leeds.
Edmund Gardens comprises five buildings around a central courtyard totalling 67,510 sq ft and 80 per cent of the office space is let alongside retail, food and beverage and residential units.
Hillview Real Estate said it planned to carry out improvement work to the offices and other space.
Nadav Livni, fund manager of Hillview Real Estate, said: "This is a really interesting value-add acquisition for our fund and new partnership with Shlomo.
"I am proud that, despite the current market volatility, we were able to successfully complete the transaction.
"The building is very well located in the heart of Birmingham's financial district, is under-rented and provides a good blend of income with the opportunity to increase rents by refurbishing any space vacated by tenants and enhancing the offering to tenants."
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