Investor buys speculative development at manufacturing hub
Investor M&G Real Estate has bought a 65,000 sq ft industrial unit at Birmingham’s Advanced Manufacturing Hub which has recently reached practical completion.
Barberry 65 was speculatively developed and last month it was let to IT manufacturer Mayflex UK on a 10-year lease.
Barberry development director Jon Robinson said: “We have worked hard and invested heavily to create a Barberry brand in the industrial/logistics market providing high quality buildings to an institutional specification and it is hugely satisfying to know that investors recognise the quality of our developments.”
Barberry bought the 2.9 acre site in Aston a year ago from Birmingham City Council and Homes England.
The developer sold a nearby site – Barberry 46, a 46,000 sq ft unit two miles away in Perry Barr – to Crown Equipment Corporation in October, in a deal which claimed to be Birmingham’s highest sale price per sq ft in the mid-box industrial market.
“Birmingham and the West Midlands is in dire need of more high quality industrial accommodation and so we are researching further opportunities across the region and the UK,” added Robinson.
“The AMH development complements several other schemes that Barberry is delivering. Our investment is generating strong demand from both regional, national and global manufacturing, light industrial and research and development businesses – ultimately generating jobs, economic growth and regeneration for the region.”
Savills acted on behalf of Barberry and FSP acted on behalf of M&G.
