Property investment company Threadneedle has acquired a Birmingham office building for £4.32m.
Nine Quinton Business Park, which is 28,000 sq ft, was previously owned by the Homes & Communities Agency and has The Independent Police Complaints Commission and Health & Safety Executive as tenants.
The Midlands office of commercial property consultancy GVA sold the building on behalf of the vendor.
Barry Riley, investment associate at GVA, said: "The sale of the building represents both an attractive acquisition for Threadneedle and an excellent result for the HCA."
The receipt generated by the sale is allocated as part of the Greater Birmingham and Solihull LEP City Deal which uses locally generated receipts from HCA assets to unlock delivery of public land to support further growth and investment in the area, thereby creating additional local benefit.
BNP Birmingham advised Threadneedle.
Quinton Business Park is five miles west of Birmingham city centre and is owned by regeneration specialist St Modwen.
