British Land has acquired a EUR 38 mln building in the British city of Birmingham. Previously occupied by the lender NatWest, the building is located in the prime city office site, in the heart of Birmingham. The UK group has appointed the architects Hamiltons to design a new 'high quality signature office building'.
British Land has acquired a EUR 38 mln building in the British city of Birmingham. Previously occupied by the lender NatWest, the building is located in the prime city office site, in the heart of Birmingham. The UK group has appointed the architects Hamiltons to design a new 'high quality signature office building'.
British Land, which converted to a REIT at the beginning of the year, also agreed to acquire a portfolio of TGI Friday's restaurants from Whitbread. The UK restaurant chain is selling its 45 TGI Friday's restaurants for EUR 107 mln. Fifteen of the 45 restaurants will be sold to British Land and the remaining 30 properties will be transferred to a joint venture between Carlson Restaurants Worldwide and ABN Amro Capital called T.G.I Friday's UK. The joint venture will be taking 25-year leases from British Land for each of the 15 properties.
