A trio of office buildings in Birmingham have been sold by St Modwen for £7.36 million.

The buildings are housed on the 18-acre Quinton Business Park, which is owned by St Modwen, near the M5 west of Birmingham.

The self-contained offices, which together total more than 50,000 sq ft, have been sold to an unnamed UK fund manager with the sale price reflecting a net initial yield of 8.4 per cent.

The acquisition boosts the purchaser's portfolio of offices at the business park, following its purchase of building nine in 2014 from the Homes and Communities Agency.

Peter Rudd, senior development surveyor at Birmingham-based St Modwen, said: "The strong investor market, which has continued into 2016, has assisted the successful disposal of the remaining 50,000 sq ft of prime office space at Quinton Business Park, reflecting the underlying strength of the Midlands' office market.

"St Modwen retains ownership of five acres of development land within the site, with outline planning consent in place for up to 85,000 sq ft of office space.

"We are currently reviewing our options for this final phase of the development."

Callum Wing, surveyor at Colliers International which acted on behalf of St Modwen, added: "Quinton has become firmly established as a thriving location for business and continues to have strong appeal, as this latest sale testifies."

BNP Paribas Real Estate represented the purchaser.