Blue Marble Asset Management (Blue Marble) has acquired three Grade A headquarters office buildings on the edge of what is widely recognised as Lichfield’s best office park, and is strategically positioned to fully benefit from the M6 Toll and the easy access afforded to the central motorway network.
Acting on behalf of an in-house private client, Edward Jones, Investment Director at Birmingham-based real estate asset management company Blue Marble, acquired the freeholds of three office buildings (providing 42,943 sq ft of Grade A office accommodation) with 215 car parking spaces on a total site area of 3.5 acres, at Lichfield South, Lichfield, just off Junction 5 of the M6 Toll.
The property was being marketed for £10.8 million, representing a net initial yield of 7%. Savills represented the vendor.
Developed in 2007, Lichfield South is a high quality Grade A office campus environment which benefits from significant on site amenities including a David Lloyd Health & Racquets Club, a Holiday Inn Express Hotel and three restaurants. It has ‘Strategic Site’ status awarded by the inward investment arm of the Staffordshire LEP which promotes and supports it.
The properties enjoy a highly prominent position fronting the Wall Island roundabout at the junction of the A5, the A38 feeder road and M6 Toll, Lichfield South sits on the corner between the A5, A5127 Birmingham Road and Watling Street.