Mercia Real Estate (“MRE”), the midlands focussed real estate investor and asset manager has exchanged contracts in the acquisition of 50-52 Newhall Street a 12,000ft Grade II listed office building in the central business district in an off-market transaction.
The building occupies a prominent corner on Newhall Street just off Colmore Row adjacent to WeWork’s Louisa Ryland House.
Samuel Clark, CEO said, “We have been searching for a period of time for an office for our own occupation which can accommodate our continued growth. Our ability to acquire off market in the central business district is testament to our excellent market contacts and transactional awareness.
The building is currently fully occupied as a serviced office which gives us the flexibility to carry out a gradual refurbishment programme so that the building can operate as our headquarters in the near future.”
Mercia Real Estate were advised by George Jennings of Avison Young.