Fortix Capital – the joint venture between Watson’s Property and SecureHome Group – has acquired Aqua, a city centre office building, for an undisclosed seven figure sum.
The purchase of the property at 20 Lionel Street, Birmingham, is the firm’s second since its recent launch and its first in the office sector, following the major residential acquisition at Brindley House, and delivers on the company’s pipeline of office and retail asset investments.
Aqua is a 41,961 sq ft building arranged over ground, mezzanine and four upper floors. It is anchored by the Environment Agency, which occupies three full floors on a secure government covenant, alongside Moorepay, the payroll and HR software business. The combination gives the building a strong, diversified income from established tenants.
Alex Watson, founding partner of Fortix Capital, said: “Aqua is in a location that is moving in the right direction. The Jewellery Quarter is going through a deep and thoughtful regeneration, Makers Place is taking shape directly opposite, and the building is well connected and well let. The existing tenants give us a strong income base, and our focus now is the vacant space and bringing the whole building back to full use. That is exactly the type of situation Fortix Capital is built for.”
James Ackrill, founding partner of Fortix Capital, said: “There is no shortage of capital chasing offices, but far fewer buyers who can run an asset and resolve a void. Aqua is the second deal in a pipeline we set out at launch, and it shows the platform doing what we said it would across more than one sector.”
The building sits on the edge of the Jewellery Quarter, one of the most active areas of regeneration in Birmingham. The Quarter is growing through considered, long-term investment, and in May 2027 it will host the inaugural Birmingham Jewellery Biennial, a month-long festival co-founded by the Jewellery Quarter Development Trust and Birmingham City University that follows the city’s recognition as a World Craft City.
Directly opposite Aqua on Lionel Street, Moda’s Makers Place is bringing new homes, retail units, commercial space and public realm to what was previously an underused part of the city centre. Aqua is also a short walk from Snow Hill station, close to Colmore Row and the Paradise and Arena Central regeneration.
Fortix Capital targets counter-cyclical and often overlooked stock across the UK, including complex transactions involving administrators and receivers. Investment activity spans residential, commercial and industrial property, with the flexibility to move across asset classes as opportunities emerge. The firm continues to review further opportunities where its hands-on approach can unlock value.