Birmingham office block sold for £16.8m

A Birmingham city centre office block has been sold for £16.8 million.

Topland Group has acquired 60 Church Street from London-based real estate investment and asset management firm Catalyst Capital.

The 11-storey building, which is located at the corner with Cornwall Street, is home to BusinessLive publisher Reach Midlands, property consultancy Bruton Knowles and publishing group The Economist among other tenants.

It was recently underwent a £2.1 million refurbishment to provide 63,290 sq ft of office space and is now fully let.

Catalyst Capital partner Guy Wilson said: "This has been a highly successful refurbishment and releasing project for us and we continue to look for similar value-add office property opportunities throughout the UK."

David Sanderson, investment manager at Topland, added: "This acquisition provides us with both quality income on a very well-located asset and the opportunity to add value.

"It fits well with our existing regional portfolio and we continue to seek similar opportunities."

Catalyst Capital was advised by Avison Young and Topland was advised by Savills.