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SEB buys Birmingham office interior space
Office design news from Morgan Lovell
Published on 08-01-2010
SEB Asset Management has purchased an office building in Birmingham for £31.4 million.
The company has bought 2 St Philips Place on behalf of its fund SEB ImmoInvest from the Equitable Life Assurance Society.
In total, the property offers 63,000 sq ft of modern office design space and is currently fully let to Royal Bank of Scotland until at least 2018, with the bank having the option for a four-year extension to the deal until 2022.
The building is located in Birmingham's main office area opposite St Philips Cathedral in the city centre. The deal was brokered by property agents GVA Grimley and Jones Lang LaSalle.
Meanwhile, property agent King Sturge recently revealed the number of office uptake deals fell considerably across Birmingham in 2009 when compared to the previous year's levels.
It found that 110 deals were completed over the last 12 months, totalling 657,280 sq ft - down from the previous year's 959,307 sq ft.
Posted by Adrian Norman.
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