Wednesday 20 September 2017

Ballymore to sell Three Snowhill

Ballymore are said to be seeking a buyer for its Three Snowhill office buildingin Birmingham
Ballymore are said to be seeking a buyer for its Three Snowhill office buildingin Birmingham
Peter Flanagan

Peter Flanagan

Sean Mulryan's Ballymore Group is to seek a buyer for its Three Snowhill office block in Birmingham, as it seeks to capitalise on the impriving property market in the midlands city.

The developer has retained Savills to act as agent for the sale.

Three Snowhill will likely go for upwards of £150m (€201m).

Industry magazine Property Week reported that Mr Mulryan's firm last month submitted a planning application to Birmingham City Council for the 400,000 sq ft building, the third in its 1m sq ft Snowhill development.

If built, the block will provide 360,000 sq ft of offices over 16 storeys, 40,000 sq ft of leisure and retail space, and ancillary parking spaces over four floors.

Ballymore secured outline consent for Three Snowhill in 2013.

The first project in the scheme, One Snowhill, was completed in 2009 and is now home to tenants including KPMG, Barclays Bank and DWF.

Two Snowhill opened in 2013. Its tenant roster includes the likes of law firm Wragge Lawrence Graham & Co and will also be home to the new construction headquarters for HS2.

Sunday Indo Business

Also in Business