Moorfield Group has carried out a £30m sale and leaseback with leisure group Mitchells & Butlers for its 95,000 sq ft head office and adjoining 120-room hotel.

Moorfield has bought the buildings for its Moorfield Real Estate Fund II which raised £400m of private equity on closing at the end of 2007.

The hotel and office are on Fleet Street in Birmingham and the hotel is branded a Express by Holiday Inn. Both have been leased back to Mitchells & Butlers.

Marc Gilbard, chief executive of Moorfield Group said: ‘We are delighted to have reached agreement on this acquisition. High quality buildings in a strong location, let to a sound covenant make this a compelling investment opportunity for us.’

MREF II is backed principally by US endowment and foundation funds and European pension funds.

Colliers CRE acted for Mitchells & Butlers and Savills acted for Moorfield.