Hortons sells Temple Buildings

A prime retail and leisure building in Birmingham city centre has been sold in a £4 million deal.

Acting on behalf of Hortons, MK2 Real Estate has sold Temple Buildings, a part Grade II listed property on the corner of New Street and Temple Street, to a private investor.

Temple Buildings comprises two adjoining properties – 49-50A New Street and 19-20 Temple Street – totalling 10,055 sq ft. The ground floor retail units are let to Moss Bros, Ryman stationers, Oriental Treat (trading as T4) and Everyman Barbers. The upper floors of 19-20 Temple Street are let to Vogues Holdings for residential use.

Mark Johnson, director in MK2’s investment team, said: “Despite the economic challenges over the last few years, Birmingham’s retail and leisure market has remained resilient, with positive levels of take up and tenant demand.

“Temple Buildings sits on the main thoroughfare from Grand Central to the Colmore Business District and the popular bars and restaurants in the area, with high footfall and passing trade as a result.”

Steve Tommy of Hortons, added: “The disposal of Temple Buildings is part of our ongoing strategy to reinvest in both existing and new projects within the industrial sector.”

Lewis & Partners advised the buyer.