A new joint venture partnership has announced its first major commercial property acquisition following a £1.95 million deal.
Urban Village Capital – a joint venture partnership between Urban Village and Key Land Capital – has acquired Fazeley House in Rocky Lane, Aston, Birmingham.
The 18,155 sq ft detached, three-storey office block provides self-contained open plan office suites and is located in a canalside setting just a short drive from the M6 motorway.
Birmingham-based Urban Village Capital is an investment and development business with a multi-million pound portfolio of developments across the UK led by chief executive Nick Sellman and executive director Kevin Sharkey.
Nick, an experienced property developer with a specific focus on urban regeneration, said: “Our investment in Fazeley House marks the first major acquisition of our new joint venture partnership and is an exciting addition to our portfolio.
“This is a fantastic headquarters building, situated on the popular Aston Cross Business Village in the thriving Waterlinks area of Birmingham. Its location is excellent, within striking distance of the city centre but also very close to the A38(M) and the motorway network. We will invest in improving the offices and we are confident it will appeal to a range of potential occupiers.”
Kevin said: “This is the first acquisition in a long term strategy which will see our portfolio of investments grow significantly. We are at the start of a new era and we have several exciting new developments in the pipeline that we will be able to announce in the coming months.”
Urban Village Capital’s mission is to deliver quality residential developments that generate target returns for institutional and private investors.