GVA Investment team completes deals worth £55m to start 2018
GVA’s Investment team in the Midlands has experienced a strong start to 2018, transacting deals worth over £55 million, with most completed in the first quarter.
The team has taken advantage of a strong market to complete ten deals totalling over 430,000 sq ft on a range of different properties including office buildings, industrial units, retail spaces and office-to-residential conversions.
This included the sale of the 150,000 sq ft Doranda Way Business Park in West Bromwich and Ashford House, a 27,500 sq ft office building which is part of the Walsgrave Triangle Business Park in Coventry.
The team also advised on the acquisition of the 113,000 sq ft campus at Innovation Birmingham by Bruntwood and Two Exchange Court, a newly built three-storey office space totalling almost 25,000 sq ft at Wolverhampton Business Park which was purchased for over £6.8 million.
Further transactions include the sales of the 85,000 sq ft office building Trinity Point in Halesowen and further office space at Princes Court in Leicester, a retail unit at 35-39 Park Street in Walsall, The Sterling Centre, a modern 18,000 sq ft retail centre in Fradley and a Jaguar dealership on the A45 Fletchamstead Highway in Coventry.
Jonathan Hillcox, GVA, said:
“We’ve had an exceptionally busy start to 2018 in the Investment team, and the market is proving to be incredibly robust across the Midlands, with transactions completed for retail, leisure and commercial sectors, and some in excess of £2 million above the original asking price.
“Investor confidence in the West Midlands region is high thanks to the competitive yields the region offers, and we don’t anticipate a slowdown any time soon.”
GVA’s investment team offers a range of advice and services on both the acquisition and sale of real estate assets.
For more information, contact Jonathan Hillcox at GVA on 0121 609 8426, or email [email protected].