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- April 06, 2019
On behalf of clients, we have exchanged contracts (subject to planning) on the acquisition of a substantial Brownfield site in Central Birmingham, close to the proposed location for the new HS2 railway terminal. The site was sourced completely off-market and by speaking directly to both the sellers and purchasers, we were able to ensure the deliverability for our clients.
The existing site measures circa 35,500 sq.ft. and consists of both light industrial warehouse and office use classes (B8 & B1). Since 2016, the property which measures circa 26,000 sq.ft. has remained unoccupied as the local demand for such use classes has continued to decline and new housing demand has subsequently increased.
Our clients have already had positive discussions with the local council for their proposed residential scheme of 54 new build apartments, which if successful, would generate an estimated GDV in the region of £13,000,000.