Nurton Developments has acquired a Birmingham city centre office building as part of a £9 million deal.
The Birmingham-based group has bought Aspect Court in Temple Row and Wireless House in Warwick in a joint venture with a private investor.
Aspect Court was acquired from Greentree Estates and comprises 24,000 sq ft of offices over seven upper floors with ground floor retail and is currently vacant apart from the retail space.
The 50,000 sq ft Wireless House, on Warwick Technology Park, has a ground and two upper floors and was acquired from corporate occupier Tulip.
It is vacant apart from 9,000 sq ft let to Accenture.
Nurton said both buildings would be extensively refurbished and asset managed to deliver enhanced value and capitalise on what was a buoyant office market in the region.
Development director Rupert Young said: "We've been looking at opportunities for a while and are extremely pleased to have secured these two off-market deals.
"Letting agents have already been instructed on the acquisitions and we're confident we will deliver good returns on our joint investment over the next 12 to 18 months, with tenant interest looking encouraging.
"Birmingham is riding on the crest of a wave at the moment and, with dwindling grade A stock in the city, there is strong investor appetite which makes it even more pleasing that both buildings have been acquired for what we consider to be the right price."
JLL and CBRE are to be joint letting agencies on Aspect Court while Bilfinger GVA, JLL and Savills will be letting agencies on Wireless House.
Nurton's JV was represented by MK2 and JLL on Aspect Court and Bilfinger GVA and JLL on Wireless House.
