Government acquires business park for HS2 construction

The government has acquired Saltley Business Park in Birmingham from a property investor under a compulsory purchase order for HS2.

The industrial warehousing park was acquired from a subsidiary of Hansteen under the High Speed Rail (London – West Midlands) Act 2017, to allow construction of the first phase of the HS2 route.

HS2 Limited has made a downpayment of £37m while the property’s market value is established.

The 1,078 million sq ft business park on the north-eastern edge of Birmingham city centre comprises of industrial warehouses and production units with offices. It has an estimated rental value of £4.6m per year, and was acquired by Hansteen in 2010.