Planet Education's £3.8M Freehold Purchase: York House Deal

Tees have recently advised Planet Education Networks (Planet Education) on its £3.8 million freehold purchase of York House in Birmingham.

Planet Education runs a global network of education institutes aiming to provide high-quality higher education courses. With the purchase of York House, which sits on a prominent corner location at Newhall Street and Great Charles Street and is a substantial five storey building of 22,175 sq ft, Planet Education intends to turn the property into an education campus to expand its existing campus in Birmingham.

Partner, Daniel Fairs, who was assisted by solicitor, Andrew Harrison, worked quickly and efficiently to finalise the purchase within Planet Education’s required timescales. Leaning on their experience, Daniel and Andrew were able to complete the transaction within six weeks of the agreement of the Heads of Terms.

Daniel Fairs’ commented: 

“It was a pleasure to have advised the purchasers, Planet Education Networks Ltd, with their strategic purchase of York House. All the professionals worked tirelessly to get this deal across the line. I look forward to hearing more as the property develops and seeing the end result when the campus is up and running”. 

Law firm, Clark Brookes Turner Cary in West Bromwich, acted for the undisclosed seller.

James Mattin of Bond Wolfe, who brokered on the transaction, commented that:

“We are delighted to have concluded this sale after a competitive bidding process. This is a further example of the potential to reposition assets such as York House that may no longer fit the modern-day requirements for city centre office use, and greater value is placed on buildings like this by alternative use purchasers.”

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Chat to the Author, Daniel Fairs

Partner, Commercial Property, Chelmsford office

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Daniel Fairs, commercial property specialist in Chelmsford

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