An industrial park in Birmingham has been bought for £14.75 million.
Barwood Capital's 2017 Regional Property Fund has acquired Hastingwood Industrial Park in Erdington for its multi-let industrial programme with Caisson Investment Management. The 380,000 sq ft, multi-let industrial estate is located on a 12-acre site in Wood Lane and is home to more than 130 small and medium companies.
Birmingham-based consultancy MK2 Real Estate acquired the site on behalf of Barwood Capital and it has also been instructed to manage the estate
Mark Bowden, property partner at Caisson, said: "Hastingwood is typical of the multi-let industrial estates Caisson specialises in and we shall be applying our very specific asset management approach to the property in order to unlock the significant value we see in the asset."
Mark Johnson, co-founder and investment director of MK2 Real Estate, added: "Despite the on-going political and economic uncertainty, we have remained extremely active, completing a bumper number of deals in the space of a couple of months, which demonstrates there is still appetite from investors for property across all asset classes, especially offices and industrial."
Gerald Eve advised the vendor.