Developer secures Birmingham industrial units in £2.1m deal
Property developer and investment specialist Key Land Capital has acquired an industrial unit in Birmingham and refinanced an adjacent unit in a £2.1m.
The two modern units, at Vincent Court, Hubert Street in Aston extend to around 28,500 sq ft.
They are currently let to roofing and cladding product supplier FC Architectural and Performance Windows Fabrications, a fabricator of aluminium windows and doors.
The deal has been supported with finance from Lloyds Bank Commercial Banking.
Key Land Capital director Kevin Patrick Sharkey said: “We’re always keen to acquire good quality commercial properties that offer genuine investment potential.
“Vincent Court, located on the fringe of Birmingham city centre with excellent transport connections via the M6 motorway, certainly fits that bill so we are delighted to have completed the acquisition.
“They are very good quality buildings with first class occupiers and are a good fit in our portfolio. We are grateful for the support of Lloyds Bank in helping us to finance this transaction.”
David Marlow, relationship manager Midlands real estate at Lloyds Bank Commercial Banking, said: “While the overall commercial real estate sector is facing some challenges, the latest RICS Commercial Property Market Survey shows that the West Midlands, and Birmingham in particular, is bucking this trend.
“Real estate transactions in the region remain strong thanks to ambitious firms like Key Land Capital, which play a key role in helping the Midlands, and Britain, prosper.
“This is an exciting new investment for the business and we’re pleased to be supporting Kevin and the team in their latest venture.”