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News Release

Birmingham

One Victoria Square in Birmingham acquired for £17.5million

Jones Lang LaSalle advises on deal


Birmingham, 19th January 2011 – Salmon Harvester Opportunity Fund, advised by Jones Lang LaSalle, has acquired 1Victoria Square In Birmingham from Serviced Office UK for £17.5m.  The sale price reflects a net initial yield of 8.3%.

Comprises 118,529 sq ft of space in two office buildings which are arranged in three wings, One Victoria Square fronts Paradise Street, Hill Street and Swallow Street in the city’s central business district.   The property is home to a variety of tenants including Regus , Lloyds TSB Bank Plc, and the government. 

Ed Gamble, head of Jones Lang LaSalle’s National Investment team in Birmingham, said: “The acquisition of One Victoria Square is Salmon Harvester’s first purchase in Birmingham and this substantial, multi-let office provides a fantastic opportunity to enhance value through a structured refurbishment programme.”

Serviced Office UK was advised by DTZ.