Property developer and investment specialist Key Land Capital has today announced the acquisition of an industrial unit and refinancing of an adjacent unit in a £2.1 million deal.
The two units at Vincent Court, Hubert Street, Aston extend to roughly 28,500 sq ft and are currently let to roofing and cladding product supplier FC Architectural Ltd and Performance Windows Fabrications.
Commenting on the deal, Key Land Capital Director Kevin Patrick Sharkey said: “We’re always keen to acquire good quality commercial properties that offer genuine investment potential.
“Vincent Court, located on the fringe of Birmingham city centre with excellent transport connections via the M6 motorway, certainly fits that bill, so we are delighted to have completed the acquisition.
“They are very good quality buildings with first-class occupiers and are a good fit in our portfolio. We are grateful for the support of Lloyds Bank in helping us to finance this transaction.”
Lloyds Bank Commercial Banking (real estate) Relationship Manager David Marlow explained the funding agreement stating: “While the overall commercial real estate sector is facing some challenges, the latest RICS Commercial Property Market Survey shows that the West Midlands, and Birmingham in particular, is bucking this trend.
“Real estate transactions in the region remain strong thanks to ambitious firms like Key Land Capital, which play a key role in helping the Midlands, and Britain, prosper.”
Key Land Developments are delivering a string of residential projects across the West Midlands, including multi-million office-residential transformations.
David added: “This is an exciting new investment for the business and we’re pleased to be supporting Kevin and the team in their latest venture. We’ve pledged to lend £2.5billion to Midlands businesses this year and will be standing by their side throughout 2019 to ensure that they have the support and guidance they need.”