Fortix Capital has acquired the 41,961 sq ft Aqua office building in Birmingham city centre for a seven-figure sum.
The building, which is located at 20 Lionel Street on the edge of the Jewellery Quarter, is arranged over ground, mezzanine and four upper floors. It is anchored by the Environment Agency, which occupies three floors, alongside Moorepay, the payroll and HR software business.
The deal is the second completed by Fortix Capital – a joint venture between Watson’s Property and SecureHome Group – following its multi-million-pound acquisition of a portfolio of 26 apartments at Brindley House in the Jewellery Quarter last month.
Alex Watson, founding partner of Fortix Capital, said: “Aqua is in a location that is moving in the right direction. The Jewellery Quarter is going through a deep and thoughtful regeneration, Makers Place is taking shape directly opposite, and the building is well connected and well let. The existing tenants give us a strong income base, and our focus now is the vacant space and bringing the whole building back to full use. That is exactly the type of situation Fortix Capital is built for.”
James Ackrill, founding partner of Fortix Capital, added: “There is no shortage of capital chasing offices, but far fewer buyers who can run an asset and resolve a void. Aqua is the second deal in a pipeline we set out at launch and it shows the platform doing what we said it would across more than one sector.”
