IM Properties takes control of The Hub
COLESHILL-based IM Properties has completed its “multi million pound” acquisition of industrial park The Hub in Birmingham.
The Witton site – formerly an IMI factory – boasts more than 50 acres of serviced development land which could take industrial units of up to 750,000 sq ft.
In addition, the Hub has six industrial and distribution buildings totalling 625,000 sq ft. Tenants include Timet (UK) Ltd, IMI Components Ltd, Iron Mountain and Laidlaw Interiors Group.
The Hub has previously been mooted as a possible new location for Birmingham’s Wholesale Markets. It is one of six locations across Birmingham to benefit from enterprise zone status.
IM has purchased the site from PRUPIM, the real estate investment management arm of M&G Investments, as part of its continuing strategy to acquire key employment sites within the West Midlands.
Kevin Ashfield, IM Properties’ development director, said: “The Hub provides the rare opportunity of a fully serviced site in close proximity to Birmingham city centre and is perfectly suited to internet retail, local distribution and manufacturing led requirements.
“The lack of available sites around the city and the West Midlands, combined with a shortage of available buildings, means The Hub is excellently placed to attract occupiers.”
IM Properties was advised by Andrew Bull at Savills, Birmingham.
