A south Birmingham office block has been sold for £6.2 million.
3 Devon Way in Longbridge has been bought by Bradda Capital from St Modwen which built the scheme as part of its long-running regeneration of the former MG Rover works in the town.
The 21,000 sq ft, grade A building on Longbridge Technology Park was pre-let to independent professional services consultancy Barnett Waddingham on a 15-year deal where it houses 150 staff.
Marketed by Savills, St Modwen said 3 Devon Way had attracted significant interest from buyers.
Development director Elliot Sellars said: "The sale of 3 Devon Way is a major step forward in the regeneration of Longbridge.
"Not only have we welcomed a fantastic new business in Barnett Waddingham but we have also welcomed Bradda Capital as an investment partner in the town - one which shares our values and long-term vision for Longbridge.
"We hope to welcome more businesses to the town as we bring forward additional space in Two Park Square, a proposed 48,000 sq ft grade-A office building in the centre of Longbridge."
Matt Jenns, investment director at Savills in Birmingham, added: "The price demonstrates the strength and depth of demand for long income offices which we have seen in a range of similar transactions in 2020, post the spring lockdown."
Property consultancy JLL advised Bradda Capital.
