International law firm Stephenson Harwood LLP has advised Tristan Capital, a London based real estate investment management company, on the purchase of The Cube, an iconic multi-purpose building in Birmingham.
The Cube is a 216,000 sq ft building incorporating offices, retail space, a hotel, residential suites and leisure facilities. It was designed by Make Architects, which were involved in the design of 'The Gherkin' building in London.
The building was bought from PwC, the administrators for Birmingham Development Company Ltd, Build Ability Ltd and Hudson Advisers/Lonestar.
Commenting on the purchase, Peter Mather of Tristan Capital said: "Acquiring such an iconic building during the recession boosts our presence in the Birmingham market, and gives us a multi-purpose investment, allowing us to seek tenants across several different sectors, as the market starts to develop and pick up."
Jonathon Wilkes, head of real estate at Stephenson Harwood LLP led the team advising Tristan Capital. He was assisted by: Simon Brading, Matt Bowles, Ashley Davidson, Graeme Barton, Leigh Sayliss, Anita Kasseean, Andrew Wiseman and Becky Vernon.
The Cube project had been in administration for over two years until the acquisition, as banks failed to agree a funding package with developers.