CorumXL buys Solihull office

Corum XL has bought a prime Solihull office from a fund managed by Columbia Threadneedle Investments for £19m. The off-market acquisition of Lansdowne Gate reflects a net initial yield of 6.46%. The 60,999 sq ft office is located on New Road, in Solihull town centre. It was fully refurbished in 2015. The office has less than 5% vacancy and is let to National Grid for 6.5 years. Savills advised Corum XL and CBRE acted for Columbia Threadneedle Investments. To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette Image courtesy of Savills