A Birmingham-based real estate investment and development group has completed the acquisition of Mill Wharf from a property fund managed by Downing LLP of London.
The completion reflects a wider combined acquisition of £5.5m which now extends Woodbourne Group's ownership to 60,000 sq ft of mixed-use space, over 2.5 acres.
Located just off the A38 and Dartmouth Circus, the property occupies a prominent position in Birmingham City Centre, within the Birmingham Curzon Masterplan Area for HS2, and in close proximity to the city’s University Quarter. The site also benefits from its canalside location.
Tani Dulay, chief executive of Woodbourne Group, said: “Successfully acquiring the Mill Wharf investment on the open market is a demonstration of our ability to conclude deals within a timely manner.”
Nick Lewis, partner of Downing LLP, said: “Having recently re-geared the lease with the occupier JTL, which included bringing in the adjacent car park owned by the tenant, now was the opportune time for a disposal of this asset and Woodbourne Group were an obvious buyer. Woodbourne Group acted quickly and enabled a swift transaction to take place.”
James Madill, partner of Gateley’s plc acted for Woodbourne Group, and DWF and MK2 Real Estate acted for Downing.
£360m project could create over 1,000 jobs
Avison Young will provide comprehensive services
Leaders say the move will enhance long-term finances
Taylor Maxwell takes on ground floor space
Law firm appoints commercial property expert
Proposed project would create mix of commercial units
Associate director strengthens regional team
Multi-million pound contract is completed
Paint and powder coatings producer joins global group
Birmingham Bank will serve SMEs across the Midlands
Award-winning education and real estate expert will lead the team
Property experts announce new lettings and renewals
Shareholder acquires firm he founded in 2012
Deal comes as company looks to expand national and global influence
Innovation Birmingham campus wants to grow
