Colliers on the hunt for local sites for North west residential developer

COLLIERS International in Birmingham has been instructed by investment and development company FreshStart Living to advise it on acquisitions in the West Midlands.

The company, which is headquartered in Swinton, Greater Manchester, specialises in buying derelict or underperforming property stock to convert into affordable residential accommodation for students and key workers.

Colliers International’s office agency and development consultancy teams in Birmingham have been instructed to help source and acquire wholly or partly vacant commercial buildings, such as offices and hotels, in excess of 30,000 sq ft.

Established in 2009, FreshStart Living was set up to provide affordable rental properties in prime locations by acquiring redundant buildings, which are then renovated and sold to investors at below market value.

The company took advantage of the economic downturn and subsequent property market collapse by buying up developments from struggling companies or banks that have experienced write-downs at low cost for cash.

While this is FreshStart Living’s first foray into the West Midlands property market, to date the company has completed a number of developments in city centre locations across the UK, including Bradford, Liverpool, Manchester, and Nottingham.

Alex Tross, associate director in the office agency team at Colliers International, said: “FreshStart has ambitious plans to grow its property portfolio and has identified Birmingham as a prime location to help achieve this goal.

“The company has built a strong business and reputation in the North West for delivering quality, affordable properties that give investors a good return and with our help is aiming to replicate the model in the West Midlands.

“We will be working closely with FreshStart’s acquisitions director Greg Roberts to identify potential acquisition opportunities in the region. We’re not just looking for empty or derelict properties; we will consider part vacant buildings with short-term income too.

“For landlords, this provides another opportunity over and above the traditional lettings market.”