An office building in the heart of Birmingham's business district has been sold for more than £11 million.

63 Temple Row has been acquired by EPIC UK from clients of Aberdeen Asset Management.

The ten storey, 39,515 sq ft office building is home to Allied Irish Bank and law firm BLM and is leased at an average office rental of £17.60 per sq ft.

The £11.6 million sale reflects a net initial yield of 5.67 per cent.

Birmingham-based property consultancy GBR Phoenix Beard advised the clients of Aberdeen Asset Management and EPIC UK was advised by Farmer Capital.