Stock Exchange sold for £7.95m
The Stock Exchange building in Birmingham has been sold for £7.95m. Allsop advised Stoford Ventures on the sale of the 1920s site, representing a net initial yield of 6.4 per cent.
The property, which is let to EFG Private Bank for 15 years, has been purchased by Capital Trust following the completion of a £1.85m refurbishment programme to upgrade the offices.
Scott Tyler, partner at Allsop, said: "The Stock Exchange building is a striking asset in a core city centre location with a long lease to an excellent covenant. The investment was of particular interest to private and overseas investors scouring the market for rare secure investments. The price reflects the scarcity of secure long leased stock."
The Stock Exchange, located at 33 Great Charles Street in Birmingham, comprises 24,825 sq ft of grade A offices set over five storeys and is in a conservation area.
