Norton Rose Fulbright has advised Commerz Real on the £125 million sale of One Snow Hill, a prime office building in Birmingham, to a fund managed by Union Investment, the German asset manager.

Norton Rose Fulbright’s real estate team advised Commerz Real, part of the Commerzbank Group and a long term client of the practice, on all aspects of the sale.

London based real estate partner David Hawkins led the team, assisted by of counsel Karen Fielding and associate Alun Price. Real estate finance partner Lucy Wolley Dod also advised, together with tax consultant John Challoner.

David Hawkins, real estate partner, Norton Rose Fulbright, commented:

“This transaction demonstrates the renewed appetite for real estate investment outside central London. Over the past few years almost all activity has centered around prime central London property but we are now seeing increasing interest in regional markets from both domestic and international investors.”
Nabarro advised Union Investment.

Norton Rose Fulbright recently advised Commerz Real on the £260 million sale of the Lloyd’s of London building.