Praxis and Veld to purchase mixed-use campus in Birmingham for €146m

Praxis and Veld Capital have joined together to acquire the Brindleyplace in the heart of Birmingham city center, United Kingdom, for £125 million (€146.1 million/$157 million).

HSBC Alternative Investments sold the 60,298-square-meter (649,042-square-foot/14.9-acre) canal side campus.

Brindleyplace comprises several high-quality office-led buildings, and the campus also has ground-floor leisure space, a multi-story car park, as well as a retail arcade, four-star hotel, art gallery, aquarium and a leisure scheme.

“We are pleased to have acquired such a landmark, income-generating estate with strong existing ESG credentials and clear decarbonization potential,” said  Sebastien Wigdo, partner at Veld Capital. “This acquisition adds to our recently assembled portfolio of U.K. regional office properties with Praxis in what we believe is a once-in-a-cycle opportunity to invest and aggregate best-in-class properties, with strong fundamentals, at a very com