Property firm is ‘positive’ after 96% rent collection
Birmingham-based MIA Property Group says that a diverse portfolio has been key after it reported 96% rent collection in 2020.
The firm, which has an estate valued at £100m, says it views the performance as “positive”.
MIA Property Group’s co-founder Fazal Ahmed said: “Understanding our tenants has been key to underpinning our performance.” Adding “our experience has shown that working with the smaller local traders and businesses has proved to be more fruitful than some of our larger tenants who have struggled with the pandemic.”
The firm has re-let the Café Rouge unit on Harborne High St to the Lasan Group and has also completed a new lease in Knowle High Street with a AK Kitchens.
The development arm of the company has sold over £8m units in Solihull, Yardley and Selly Oak. A conversion of the dermatology clinic in Selly Oak led to 10 luxury apartments being sold to one investor. Phase 2 of this project is under way with a further 46 apartments in the pipeline.
The group currently has £20m apartments and homes under construction in Moseley, Studley and at the former police station in Shirley.
In addition, the MIA group says has been working closely with the city planners with close to 200 homes being agreed to start construction throughout 2021.
