Folkes Properties expands Midlands industrial portfolio with Birmingham acquisition
Black Country based Folkes Properties has completed the acquisition of a Birmingham industrial unit as part of the continued expansion of its Midlands industrial portfolio.
Unit 1, Fairview Industrial Estate, Curdworth, Birmingham, was acquired from London Metric Property PLC.
The modern, single let industrial unit extends to 31,066 sq ft and occupies a strategic location around 450 metres from Junction 9 of the M42 and the T1 interchange of the M6 Toll, placing it at the heart of the Midlands established logistics and manufacturing network.
The property is fully let to PHS on a 20-year FRI lease that began on July 12 2007.
Samson Folkes, group managing director at Folkes Properties, said: “This acquisition aligns closely with our investment strategy of targeting well located, modern industrial assets with strong fundamentals and secure income. The Midlands remains one of the UK’s most resilient and in-demand industrial markets, and this purchase builds on the momentum created by our recent acquisition at Vale Park South.”
The acquisition follows the recent purchase by Folkes of Vale Park South, underlining the company’s continued commitment to investing in high quality industrial assets within key Midland’s logistics hubs.
The real estate business headquartered in Dudley Road, Lye, Stourbridge, continues to actively pursue further industrial and logistics opportunities across the Midlands - focusing on assets that support long-term occupier demand from manufacturing, logistics and essential services sectors.
James Polo-Richards of JG Poole & Co acted as solicitor for Folkes Properties - with AP Investment acting on behalf of London Metric Property PLC.
