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Capital markets

One Colmore Row

GBR Phoenix Beard advised Ballymore Group on the sale of the long leasehold of One Colmore Row for £8.5 million to Amber Real Estates Investments Limited.  This ten storey, 43,000 sq ft office building is one of the most prominent buildings at the gateway of Birmingham’s business district, fronting Colmore Row, alongside Snowhill Station and the Snowhill office development scheme.  One Colmore Row’s tenants include Knight Frank, Waitrose and The Diocese of Birmingham.

GBR Phoenix Beard knew the market well and offered excellent advice.  They worked hard to provide a first class service, ensuring a smooth and efficient process in what was otherwise a complex and sensitive transaction when the market was thin and volatile.  GBR Phoenix Beard produced an excellent end result.”

Richard Probert, Commercial Sales & Lettings Manager UK, Ballymore Group

84 Colmore Row

GBR Phoenix Beard acquired on behalf of Marlborough Property Co Ltd the prime freehold office investment 84 Colmore Row for £10,900,000.  The 30,500 sq ft office is let in its entirety to Mills & Reeve for over 11 years and represents one of the most prime located properties in Birmingham City Centre, positioned on Colmore Row with views over St Philips cathedral.

Units 1-7 Hawthorns Business Park, West Bromwich

Instructed by Blue Marble Properties and Bridges Ventures, GBR Phoenix Beard sold Units 1-7 Hawthorns Business Park to clients of Seven Dials Fund Management for a price over £3 million which reflected an initial yield of c.7.6%.

GBR Phoenix Beard handled the investment sale of a warehouse unit on our behalf.  The service and advice we received from original consultation through to the successful disposal of the property was impeccable.  We were updated on a regular basis throughout the period of their engagement in a thoroughly professional manner and the price achieved was exceptional”.

Guy Bowden, Acquisitions Director, Bridges Ventures

Our choice to sell our investment through GBR Phoenix Beard could not have been better; sensible and realistic advice at the outset, excellent communication throughout and delivery of a timely completion at a very satisfactory price despite some unconventional circumstances!  Well done and thank you team GBR Phoenix Beard!”

Tim Matthews, Chief Executive, Blue Marble Properties Limited

One Brindleyplace

Possibly Birmingham’s headline deal of 2013, GBR Phoenix Beard advised BA Pension Fund on the lease regearing with their tenant Deutsche Bank at One Brindleyplace, resulting in a reversionary 10 year lease being granted on the 68,000 sq ft office property.  GBR Phoenix Beard are then instructed to market the resultant prime office investment. The sale was ultimately agreed with a European fund for a price of around £30 million.

St Philips Point, Ediston

GBR Phoenix Beard’s capital markets team has advised Ediston Properties on their purchase of St Philips Point on Temple Row in Birmingham. St Philips Point, which comprises a 97,469 sq ft office and retail building over eleven floors, has been bought by The Ediston Opportunity Partnership, a joint venture by Edinburgh-based Ediston Properties and Europa Capital. The property, located near the city's cathedral, is held freehold and let to six tenants. It was sold by the LPA Receiver on behalf of Lloyds bank. Stephen Benson and Simon Robinson of GBR Phoenix Beard worked closely with Ediston on the purchase, and GBR Phoenix Beard has been retained to implement the asset plan for the property which includes renegotiating leases, letting vacant retail and office space, undertaking repair and refurbishment works as well as property management.

Daniel O'Neill of Ediston said:

We are pleased to have completed the purchase of St Philips Point. Europa Capital and RBS, provided debt on the asset, once again backing our strategy of buying very well located buildings which offer numerous asset management and refurbishment opportunities."

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