In a significant move, Praxis, a UK property investment and management platform, in collaboration with Veld Capital, a private credit specialist investor, has acquired the renowned Brindleyplace offices campus in Birmingham’s city centre. The deal, valued at £125 million, was made public by CoStar News.

The Brindleyplace campus, spanning 14.9 acres along the canal, stands as one of Birmingham’s premier business and leisure destinations. Originally developed by Argent in the early 2000s, the campus boasts a mix of office-led buildings, leisure spaces, a multi-storey car park, a retail arcade, a four-star hotel, an art gallery, and an aquarium. Currently, the estate enjoys a 90% occupancy rate with notable tenants such as Deutsche Bank, Michael Page, Lloyds, Deloitte, and Pret a Manger, among others.

Sebastien Wigdo, a partner at Veld Capital, expressed his enthusiasm for the acquisition, highlighting the estate’s strong ESG credentials and its potential for decarbonisation. He emphasized the strategic nature of this acquisition, especially in the current economic climate.

The acquisition comes at a time when Birmingham is witnessing a surge in investment and infrastructure development, notably the high-speed railway project HS2, which aims to connect London to Birmingham in under 45 minutes by 2030.

With the UK Real Estate Investment and Infrastructure Forum (UKREiiF) slated for 2024, the Brindleyplace acquisition underscores the potential opportunities in the UK’s real estate sector. The forum is expected to attract a vast number of investors, many with substantial budgets, looking to explore partnerships and investment opportunities in the UK’s burgeoning real estate landscape.