News
Mailbox: A Brexit Hedge, Yours For £235M
3 July 2018
Mailbox, Birmingham
Just days after Tristan Capital sold Birmingham's 500K SF Cube mixed-use development for — maybe — £55M, Brockton Capital have put the Mailbox on the market.
The 690K SF mixed-use scheme in the city centre is for sale with a £235M price tag, a yield of 5.25%, Estates Gazette reports.
In January the Mailbox scooped an early HS2 dividend when engineering consultancy WSP agreed to take 47K SF at the 200K SF building.
The sale confirms a trend toward investor interest in the U.K. regions, which they regard as potentially a hedge against Brexit risks. Data suggests more than half U.K. property investment is now heading to the regions, EG said.
Neither Brockton nor CBRE, reported to be agents on the sale, responded to Bisnow's request for comment.
