25 September 2015

LaSalle disposes of Mitchells and Butler HQ for £69.5 million

Forsters has advised a pension fund managed by LaSalle Investment Management (LaSalle) on the sale of the headquarters of restaurant and pubs giant Mitchells & Butler Plc in central Birmingham to Legal & General for a purchase price of £69.5 million.

The property comprises an office building fronting onto Fleet Street providing in excess of 95,000 sq ft of Grade A space, together with a 120-bed hotel which is accessed from Lionel Street. The property is wholly let to Mitchells & Butler Plc on a 35 year lease with a term commencing in 2009.

Commercial Real Estate partner Ronan Ledwidge advised on the sale, assisted by Mary-Anne Murray. Forsters also advised LaSalle when the property was acquired in February 2014.

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