Grade II-listed centre is Brum's favourite building
Morley Fund Management, manager of Norwich Union's property assets, has bought one of Birmingham's oldest shopping arcades. It paid private property company Omega European Investment£22.95 million for Great Western Arcade, which links Temple Row and Colmore Row. The price reflects a 6 per cent initial yield.

The Grade II-listed Victorian Arcade, voted Birmingham's favourite building in a residents' poll, comprises 31,740 sq ft (2,950 sq m) of retail in 44 units and 18,500 sq ft (1,720 sq m) of office space. Rents range from£80 to£105 zone A.

Knight Frank represented Morley. Colliers CRE advised Omega.

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