Hastingwood Securities, advised by Gerald Eve, has sold Hastingwood Industrial Park in Erdington, Birmingham to Barwood Capital’s 2017 Regional Property Fund for its multi-let industrial programme with Caisson Investment Management.
Barwood and Caisson paid £14.75 million for the industrial estate, which provides around 380,000 sq ft of multi-let space on a 12.28-acre site on Wood Lane, a prime distribution location close to Birmingham City Centre. Hastingwood Industrial Park is home to more than 130 businesses, with units and offices ranging in size from 290 sq ft to 45,000 sq ft.
Jon Ryan-Gill, partner at Gerald Eve, said:
“Given the diverse nature of this industrial park, this was a complex sale to oversee and one of the largest of its type in Birmingham this year. The disposal highlights the ongoing strength of the industrial market in the region, especially at the multi-let end of the spectrum.”
Gerald Eve advised Hastingwood Securities, while MK2 Real Estate acted on behalf the buyer.