A Tokyo-based investment business has acquired a Birmingham site for speculative warehouse development.
Europa Capital, which is ultimately affiliated to Mitsubishi, has acquired a 189,000 sq ft site at Perry Bar, north of the city centre.
They plan an 80,000sq ft speculative unit.
James Brodie, Director at Europa Capital, commented: “Given its excellent strategic location being only a short distance from Birmingham city centre and close to a major motorway junction we anticipate the site will be of great interest to last mile logistics providers.”
Chris Geaves, of Sovereign Centros, said: “The site was sourced on an off-market basis and offers an excellent opportunity to regenerate the area alongside the significant investment that will be awarded by the Commonwealth Games in 2022, whilst any new logistics space will also support additional employment growth in the area.”