19 Cornwall Street in Birmingham
The group’s property division has snapped up 19 Cornwall Street in Birmingham for circa £35m as it turns its attention to the West Midlands.
Kier Property has purchased 19 Cornwall Street in Birmingham from Standard Life Assurance Limited for around £35m.
This is Kier Property’s first commercial purchase in the West Midlands and its single biggest purchase in 2017, the choice of location and product reinforcing Kier’s commitment to the commercial office market as well as the West Midlands region.
This scheme is the division’s 28th office project; representing a total of 2.2m sq ft. The building’s total floor space is 133,000 sq ft arranged over ground and six upper floors with existing tenants, Price Waterhouse Coopers and Pinsent Masons, occupying 84,000 sq ft.
The plan is to let the remaining 23,233 sq ft of space and absorb the building into Kier Property’s existing portfolio of commercial developments.
Tom Gilman, managing director (north), Kier Property, said: “This scheme will significantly strengthen our portfolio and activities in the West Midlands.
“We see the West Midlands as a key location for our expansion plans and we welcome further opportunities across all asset classes as well as joint venture opportunities.”
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