Mailbox REIT, which owns the Mailbox, a large prime office-led mixed use property in Birmingham, said it aims to admit the company to trade on the International Property Securities Exchange (IPSX) - Wholesale segment.
IPSX Wholesale is exclusively for institutional and professional investors and for issuers with an asset, or assets, which have a minimum value of over £50 million and the firm said it expects to become the first single asset REIT to trade on IPSX on or around April 19 this year.
IPSX is a new Regulated Investment Exchange regulated by the financial conduct authority (FCA) and is the world's first such exchange dedicated to the IPO and secondary market trading of institutional grade commercial real estate assets.
The Mailbox is a five-minute walk from Birmingham's New Street Station and comprises around 698,000 square feet (sq ft) of mainly office space, anchored by the BBC, with a complementary, ancillary retail and leisure offering.
Over the next three to five years, the property will be further repositioned for growth as a pre-eminent 'Live Work Play' destination.
The firm's planned admission to IPSX Wholesale replaces the proposed admission to IPSX Prime as detailed in the firm's announcement in October last year, it added.