Mailbox sold for £127m
Birmingham’s iconic Mailbox has been sold for more than £127m. Brockton Capital Fund purchased the building in one of the UK’s biggest property deals of 2011.
Brockton Capital has acquired the building on behalf of Brockton Capital Fund, which will be partnering in the transaction with Milligan, who will be coinvesting.
The site was sold for a total of £127.1m, from Birmingham Mailbox Limited. The deal comprises 640,980 sq ft of lettable accommodation including office, retail and restaurant units, and a 686 space public car park. Both cover a site of 4.8 acres in Birmingham’s city centre.
Current tenants include BBC, Network Rail, Harvey Nichols, Emporio Armani and Thomas Pink. The estate also includes 144 residential apartments together with 165 private dedicated car spaces, two hotels (279 bedrooms), all let on long ground leases.
David Zimmermann, a partner of Brockton Capital, said: “Brockton Capital is excited to have invested into The Mailbox, one of the city’s most iconic buildings. The innovative work of Birmingham Mailbox Limited in converting the giant former sorting office into a thriving mix of offices, restaurants, shops, hotels and apartments has been transformational for the centre of Birmingham.”
