The development division of Kier Group purchased Arena Central from Miller Developments.
The deal also allows the opportunity for three further phases of the site's existing master plan to be delivered.
Kier Property will take on the responsibility of delivering 3 Arena Central, as well as the development of three office buildings, totalling 526,009 sq ft. The 5 Centenary Square, 4 Arena Central and 5 Arena Central buildings will be phased over the next five-seven years.
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Tom Gilman, managing director for Kier Property North commented: "We are delighted to announce the purchase of this significant 9.2 acre development opportunity at Arena Central. This acquisition will substantially increase our activities in the West Midlands and will enable Kier to continue the development of the area as a place where people will want to work, shop and socialise in Birmingham."
This scheme is part of a major redevelopment of 10 buildings consisting of offices, shops, bars, cafes, restaurants and a hotel through to Q4 2026.
Andrew Sutherland, Miller Developments added: "Having been involved in the project for a number of years, Arena Central is now firmly established as one of Birmingham's prime office locations, and we're delighted to hand the baton to an organisation of Kier Property's calibre for delivery of the remaining phases."
(CM/JG)
