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PRIVACY
Commercial Property

拢16m warehouse development acquired by US investors

Northwood Urban Logistics is now leading warehouse scheme in north Birmingham

From left: Sam Pearson and John Sambrooks from Gerald Eve and Chris Keye and James Darby from Darby Keye at the new Urban Express Park in Birmingham

A US property investment group has acquired a £16 million development project in Birmingham to build a new industrial scheme.

Northwood Urban Logistics, which is part of the Northwood Investors group, has bought the project at the Advanced Manufacturing Hub in Aston from Chancerygate and Hines.

Construction work started recently on the project, to be called Urban Express Park, which will comprise 18 units covering 93,000 sq ft and is due for completion early next year, with Derbyshire-based contractor Bailey Construction leading the work.

Northwood Investors is headquartered in Denver and has offices around the world, including four in the 海角视频, one of which is in Birmingham's Victoria Square.

Director Mark Evans said: "We are very pleased to have added Urban Express Park to our logistics platform and are excited to see the development progress over the coming months leading to completion in quarter one 2022.

"We are confident the high specification and green credentials of the scheme will be well received by the modern occupier where environmental, social and corporate governance is becoming ever more important when considering committing to new commercial premises."

Commercial property firms Gerald Eve and Darby Keye have been appointed as joint letting agencies to find tenants for the new accommodation.