IM linked to £130m bid for Blythe Valley Park

COLESHILL-based developer and investor IM Properties is being linked with a £130m bid to purchase the 2m sq ft Blythe Valley business park in Solihull.

Reports in the property press suggest IM is looking to purchase the scheme – off J4 of the M42 –  in an off-market deal with French bank Natixis.

IM already owns a number of prominent developments in Solihull including the Mell Square shopping centre in the town centre and Solihull Business Park.

And in July it bought the FORE Business Park – on the other side of the Stratford road from Blythe Valley – from BAM for £21m.

Blythe Valley Park has 14 office buildings totalling around 500,000 sq ft, with planning permission for a further 1.2m sq ft of offices on site, as well as a 200-bed hotel.

Tenants include Arup, BAM, Goodman and Kier.