Land deal to bring forward Aston industrial scheme
Construction group ProBuild360 has acquired a 0.42-acre site in Aston, Birmingham, and has plans to build an industrial scheme on the land.
The site secured planning permission in October 2021 for the demolition of existing buildings and construction of two commercial buildings to provide seven new commercial units totalling 8,040 sq ft.
Acting on behalf of a private property company, commercial property agent Siddall Jones completed the sale of Aston Brook Street East.
Edward Siddall-Jones, managing director of Siddall Jones, said: “Despite the headwinds facing the commercial property market, the industrial sector still remains buoyant with purchasers competing to secure the best locations for their business.
“This site is well positioned adjacent to the A38(M), and just outside of the Clean Air Zone, making it an ideal base for potential trade counter or last mile logistics”.
Established in 2011, ProBuild360 Ltd is based nearby at 1 Phoenix Business Park on Avenue Road, Birmingham, and now has a 200-strong team.
The construction, design and build specialists have mainly concentrated on residential projects but has now decided to invest in an industrial project to broaden the company’s asset base.
Bahram Parinchy, joint managing director of ProBuild360, said: “This is an attractive investment opportunity for us as the site comes with planning permission already in place.
“We liked the fact that the site was close to our existing head office and gives us the potential for future flexibility as we continue to grow our business.”
He said that the completion of the seven new industrial units was scheduled for the third quarter of 2023.
Claire Cooper of the law firm Sidney Mitchell acted for ProBuild360, and the vendor was represented by Shannon Smith of Gateley Legal.