Mailbox in Birmingham sold for nearly £10m above asking pric

[TrueBlueTerrier]

Mailbox in Birmingham sold for nearly £10m above asking price

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The Mailbox in Birmingham has been sold to Brockton Capital for almost £10m more than the asking price.

The iconic mixed use scheme in the heart of the city has been acquired for £127.1million from Birmingham Development Company.

Brockton Capital, acting on behalf of Brockton Capital Fund II LP, has acquired the development in a partnership with Milligan.

The deal comprises 640,980 sq ft of office retail and restaurants with current tenants including the BBC, Network Rail, Harvey Nichols, Emporio Armani and Thomas Pink.

David Zimmermann, a partner of Brockton Capital, said: “Brockton Capital is excited to have invested into The Mailbox, one of the city’s most iconic buildings.

"The innovative work of Birmingham Mailbox Limited in converting the giant former sorting office into a thriving mix of offices, restaurants, shops, hotels and apartments has been transformational for the centre of Birmingham.”

He added: “Brockton Capital and Milligan will be looking to build on Birmingham Mailbox Limited’s good work at The Mailbox.

"We have earmarked substantial funds to enhance the building in order to further improve the public realm, bring in new businesses, shops, restaurants and other leisure uses to the asset and to further cement its reputation as one of the best places in the city to work, shop, eat and relax.

“We look forward to working closely with the city’s residents, businesses, retailers, visitors, planners and councillors in order to help bring this about.”

The sale of the Mailbox will bring to an end Alan Chatham and Mark Billingham’s association with the development which they brought to the market more than a decade ago.

The scheme has since suffered from a significant fall in commercial property values and the sale followed an agreement between BDC and the Mailbox’s banks.

Brockton Capital LLP was advised on the acquisition by Jones Lang LaSalle, Shelley Sandzer, Gleeds, BDO LLP and Nabarro LLP.
The vendor was advised by CB Richard Ellis and GVA and Eversheds.

[arnold cheshire]

a shopping centre has sold .. are royal mail chat users really interested in this kind of news? any views?

[BT2010]

i worked on the mailbox when it was being done out.

awful job and i would rather forget it

[POSTMAN]

ALL related news is posted up.

Teebs,any news on a Primark there?

[TrueBlueTerrier]

ALL related news is posted up.

Teebs,any news on a Primark there?

[arnold cheshire]

is there a post office counters in there? whsmith ?

[bodger]

The birmingham mailbox (shopping area) was the birmingham mail centre before it was sold.

[Straight4ward]

- - - for a moment there, I thought we were onto something!

standard_medium_mailbox.jpg

Oh well, back to poverty.