Birmingham City University (BCU) has acquired four floors of office space for a new headquarters - claimed to be the largest office transaction of the year.
The undisclosed deal has seen BCU buy the top four floors of the New Technology Institute (NTI), in Bartholomew Row, Eastside.
It will undergo a full refurbishment programme in preparation for staff to occupy the building from September and be renamed University House.
The building has a BREEAM 'Excellent' rating and was previously a British Council for Offices award winner.
BCU enlisted property consultancy GVA to help it find a suitable building for the relocation of its administrative functions from the City North campus in Perry Barr in order to be close to the Eastside campus.
GVA director Charles Toogood said: "This is a significant acquisition for the city and one that forms an integral part of BCU's estates strategy, which has already seen the university expand into the city's Eastside, with their recently completed Parkside building, ongoing building development and additional space at Millennium Point.
"As well as being one of the most environmentally friendly buildings in the city centre, NTI also carries an exceedingly high profile and there are few buildings in Birmingham that offer the right combination of flexibility and location. BCU will now be sole occupier in the building."
The acquisition is part of BCU's estates strategy which has already seen the delivery of the Parkside Building and the development of the custom-designed £60 million Curzon Building, due for completion in 2015.
BCU is the freeholder of the building and the acquisition of this space was via a lease surrender.
The Skills Funding Agency had an institutional lease from BCU but had vacated the building - the passing rent prior to lease surrender was £19.50 per sq ft.
Kelvin Craddock of Jones Lang LaSalle acted for the Skills Funding Agency.
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