Birmingham Hippodrome has completed the acquisition of The Southside Building.
Formerly known as Albany House, The Southside Building is a design-led 11 storey office block and retail space located next to the Hippodrome on Hurst Street. CBRE advised on the acquisition and will continue the day to day management of the building for Birmingham Hippodrome.
Jon Gilchrist, Artistic Director & Chief Executive of Birmingham Hippodrome said: “We look forward to working with the existing tenants and growing more work opportunities for the city. We will be exploring how we can utilise vacant units for use by artists and cultural organisations in the city. We are so proud to be part of Southside and are committed to ensuring it is a fantastic place to work and visit.”
The investment has been supported by a business loan agreement with the West Midlands Combined Authority (WMCA) and Frontier Development Capital.
Andy Street, Mayor of the West Midlands said: "I'm pleased that we've been able to step in and help facilitate this acquisition by the Hippodrome - a Birmingham cultural institution.
"In recent years, the West Midlands Combined Authority has played its part as an enabler where possible - supporting and championing our regional arts and cultural sector.
"This vibrant sector brings joy to local people and contributes hugely to our region's economy. That's why it's wonderful to be able to back Birmingham Hippodrome in this way and at this time - an organisation that has vision and values that very much align with those of the WMCA."
Kieren Turner-Owen, Associate Director at Frontier Development Capital added: “We are delighted to assist Birmingham Hippodrome in its acquisition of the Southside Building, helping to further promote and support the arts and culture sector and offerings in and around Birmingham.”