Maximus, the privatelyowned development and investment group, has purchased a Grade ll listed office building - Bamfords Trust House - on Colmore Row in the heart of Birmingham's core business district.
Funding for the deal was provided by Bank of Scotland Corporate in Birmingham.
Paul Jones, managing director, said: "We have been actively seeking a prime central Birmingham property for a while and Bamfords Trust House is as good as it gets.
"The property is a landmark acquisition and will be the cornerstone of our ongoing strategy to build a varied property portfolio. As ever, BOS provided an innovative and flexible funding structure and we are delighted to have worked with Steve George and his team on this acquisition."
Steve George, area director of real estate, West Midlands, added: "Paul has secured a building in a prime location at an attractive price.
"More importantly there is real scope here to add value. For our part we are delighted to be working on another project with the Maximus team and are confident in their abilities capitalise on the opportunities presented by this scheme."
Dick Hickton created Maximus Group in 2001 following his decision to demerge his property interests from those of the Barberry Group, which he co-founded in 1981. Paul Jones joined from Richard Ellis, where he was the youngest director, and became managing director in 2004.
In recent years Maximus and Bank of Scotland have worked together on a number of significant deals.