Former hospital acquired in near-£7m property deal
A property investment group has acquired a former hospital site in Birmingham in a deal worth almost £7m.
Knight Frank Investment Management has purchased Parklands Court in Rubery from Aviva Investors Management for £6.9 million.
The deal reflects a net initial yield of 4.95% - thought to be a record for an out of town office building in the West Midlands.
Parklands Court is located on Parklands, a 30-acre (12-hectare) development which is 8.5 miles south west of Birmingham city centre. The former hospital site now feature... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...