German investor Union Investment Real Estate has completed the purchase One Snowhill in a deal thought to be worth £125 million.
The deal represents one of the biggest office investments in the city’s history, and reflects a surge in interest of late.
The 12-storey building is home to the likes of KPMG, DWF and Barclays and has been sold by Commerz Real.
In a statement, Union Investment said: “As the UK’s second largest city, with approximately one million inhabitants, Birmingham has a broadly diversified, dynamically evolving economy with an emphasis on the automotive and financial services industries.
“Rents are forecast to increase in the Birmingham office market over the next few years, especially in the core segment.”
One Snowhill was completed by Irish property developer Ballymore in 2009 and purchased by Commerz Real a year later.
The 263,000 sq ft property has an occupancy rate of 94 per cent.