Property developer and investment specialist Key Land Capital has acquired an industrial unit and refinanced an adjacent unit in a £2.1 million deal.
The two modern units, at Vincent Court, Hubert Street, Aston, in Birmingham, extend to around 28,500 sq ft.
They are currently let to roofing and cladding product supplier FC Architectural Ltd and Performance Windows Fabrications, a fabricator of aluminium windows and doors. The deal has been supported with finance from Lloyds Bank Commercial Banking.
Key Land Capital director Kevin Patrick Sharkey (pictured) 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.”
David Marlow, relationship manager Midlands real estate at Lloyds Bank Commercial Banking, said: “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.
“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.”
Key Land Developments is delivering residential projects worth more than £40 million across the West Midlands. Its mission is to provide affordable, luxury and modern housing to students and professionals, whilst maintaining solid returns for investors. The company raises private investment to develop sites throughout the Midlands, a mixture of residential new build and office-to-residential conversions.