Grade II listed Birmingham retail building sold to investor in £4 million deal
A prime retail and leisure building in Birmingham city centre has been sold in a £4 million deal.
Acting on behalf of Hortons, commercial estate agent MK2 Real Estate says it has now sold Temple Buildings, a part Grade II listed property on the corner of New Street and Temple Street, to a private investor.
Temple Buildings comprises two adjoining properties at 49-50a New Street and 19-20 Temple Street, totalling 10,055 sq ft.
Mark Johnson, director in MK2’s investment team, said: “Despite the economic challenges over the last few years, Birmingham’s retail and leisure market has remained resilient, with positive levels of take up and tenant demand.
“Temple Buildings sits on the main thorough fare from Grand Central to the Colmore Business District and the popular bars and restaurants in the area, with high footfall andpassing trade as a result.”
The ground floor retail units are let to Moss Bros, Ryman stationers, Oriental Treat (trading as T4) and Everyman Barbers.
The upper floors of 19-20 Temple Street are let to Vogues Holdings for residential use.
Steve Tommy of Hortons added: “The disposal of Temple Buildings is part of our ongoing strategy to reinvest in both existing and new projects within the industrial sector.”
