A retail and office complex in Birmingham city centre has been sold for £3.2 million.
The building at 34-36 Bennetts Hill, which counts brewer Marstons and sandwich shop Philpotts among its tenants, has been sold to a private pension fund.
The building is 10,800 sq ft and generates annual rent of just over £200,000.
It consists of ground floor and basement retail and four upper floors of offices and was sold by City and Provincial Equity Partners.
Tom Bromwich, a partner at Bromwich Hardy which acted for the buyer, said: "Birmingham is being transformed by record levels of development and is now a highly attractive investment proposition, with a regional economy worth some £110 billion and an enhanced profile both nationally and internationally.
"There is still a lack of quality office stock in the city which is helping to drive a strong surge in demand and also contributing to ongoing rental growth, forecast to continue for at least the next five years.
"This property represented an ideal opportunity for our client with its prime city centre location and we are delighted to have secured it for them."
Representing the seller was Sampson Moore and Knight Frank.
