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Memery Crystal advises Ashtrom Properties UK on £39.5m Birmingham acquisition

16/09/2021

At a glance

The real estate team at Memery Crystal have advised existing client Ashtrom Properties UK on the £39.5m acquisition of Colmore Gate, a prime office development in Birmingham.

Located on Colmore Row – Birmingham’s most prestigious commercial address, Colmore Gate extends to 15,964.2 sq. m. (171,834 sq. ft.) of office and retail accommodation within a prominent 18-storey building, with 86 basement car parking spaces. Current tenants include the Crown Prosecution Service (CPS), AON, Tesco, Paddy Power and Monty’s Deli Sandwich Bars.

The Memery Crystal team on this transaction was led by co-head of real estate Alastair Moss and director Ayesha Qayum, and included associate Sophie Moonshine.

This work follows advising Ashtrom on their landmark £82m acquisition of Manchester’s No. 8 First Street earlier this year in one of the North West’s largest single-asset transactions in recent times.

Commenting on the transaction, Guy Lewinsohn, CEO at Ashtrom Properties UK said: “We are delighted to add Colmore Gate, a well-connected, prime office development to our growing portfolio of investments in the UK’s regional cities. We would like to thank the entire Memery Crystal team for their support on this deal – as always, they have been fantastic to work with.”

Alastair Moss, co-head of real estate at Memery Crystal said: “After No. 8 First Street in Manchester earlier this year, this is yet another significant transaction, and we are proud to have assisted on the acquisition of this landmark Birmingham office building. We look forward to supporting Guy and his team as they continue to grow their portfolio in the UK.”

(Image via Colmore Gate)

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