Valor Real Estate Partners (“Valor”), Europe’s fastest growing last mile real estate specialist, has completed the acquisition of a 4-unit, multi-let logistics park in Kings Norton, south of Birmingham City Centre. It takes Valor’s investment in what is the UK’s second largest city to almost £75 million, across three assets totalling 380,000 sq ft, since 2022.

The 86,437 sq ft modern property is 100% let to three 3PL and distribution occupiers, with near term rent reviews due on all leases. Kings Norton is a predominantly residential area which benefits from its proximity to the nearby A441, which provides access to Birmingham City Centre in just 20 minutes’ drive time. Kings Norton Station, which is on the key West Midlands Cross-City line, is a short walk from the property.

Responsible for 20% of the economic output in the region and 41% of the West Midlands Metropolitan area, and with a population of c. 2.6 million, Birmingham is a key growth market for Valor. The Birmingham logistics market continues to be characterised by robust take up, whilst a lack of new development and alternative use competition is healthy rental growth prospects.

Jeremy Achkar, Head of UK Investments at Valor, commented:

“This third acquisition in Birmingham since 2022 demonstrates our continued ambition to extend Valor’s UK footprint outside of London. We have capital to deploy at scale outside of the South East, with a focus on Manchester and Birmingham, and have been working closely with local market participants to unearth more opportunities in both these, and other, UK cities.”

Valor was advised by Harris Lamb, while the vendor was advised by Collingwood Rigby.