Industrial park sold in £15m deal

MK2 Real Estate has brokered a deal to buy Hastingwood Industrial Park in Erdington for £14.75m.

MK2 bought the 380,000 sq ft multi-let industrial estate on behalf of Barwood Capital’s 2017 Regional Property Fund, for its multi-let industrial programme with Caisson Investment Management.

Hastingwood Industrial Park is home to more than 130 SMEs, with units and offices ranging in size from 290 sq ft to 45,000 sq ft.

MK2’s property management team has been instructed to manage the estate.

Mark Bowden, property partner at Caisson, said: “MK2’s valued input assisted in getting this complex transaction completed and we look forward to them working closely with us on this property going forward.

“Hastingwood is typical of the multi-let industrial estates Caisson specialises in and we shall be applying our very specific asset management approach to the property in order to unlock the significant value we see in the asset.”

Mark Johnson, investment director and co-founder of MK2 Real Estate, said: “Despite the on-going political and economic uncertainty, we have remained extremely active, completing a bumper number of deals in the space of a couple of months, which demonstrates there is still appetite from investors for property across all asset classes, especially offices and industrial.”