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January 2015 news archive

IM PROPERTIES APPOINTS MAJELLA LYNCH AS PROJECT DIRECTOR

IM Properties has appointed experienced property professional, Majella Lynch as Project Director within its Development team.

Majella, who joins IM Properties from Turner and Townsend where she was Associate Director, will be working on the delivery of a number of the group’s most high profile developments, including the Mell Square Shopping Centre in Solihull town centre, Blythe Valley and Fore Business Parks along the M42 corridor, and The Hub in Birmingham.

Prior to Turner and Townsend, Majella spent 10 years at Castlemore Securities, working on a number of key projects including the Temple Quay and Glass Wharf developments in Bristol along with 40 Holborn Viaduct in Central London.

Majella said: “IM Properties has an outstanding reputation as a leading developer of high-quality strategic assets across a range of sectors, and the sheer scale of opportunities was a significant attraction. It is a privilege to join a group that is renowned for the consistent delivery of quality, award winning schemes and I am looking forward to helping to deliver some of these important and influential high-profile developments.”

Jason Jasper, Senior Project Director, IM properties, said: “This is a significant appointment for IM Properties and we are exceedingly pleased to have Majella on board. Her extensive experience in the project management and delivery of large-scale and high profile schemes will be a substantial asset in the ongoing delivery of desirable and contemporary schemes.”

IM Properties is one of the UK’s largest privately owned property companies and has developed a reputation for the delivery of high-quality, strategically positioned industrial and commercial schemes, including Birch Coppice Business Park near Tamworth, and Fore and Solihull Business Parks.

In line with its focussed and robust investment strategy, the group has recently expanded its portfolio through the purchase of Blythe Valley Business Park at Junction 4 of the M42, and 55 Colmore Row in Birmingham city centre.



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IM PROPERTIES COMPLETES KEY MIDLANDS ACQUISITION

Blythe Valley Park
IM Properties has completed the acquisition of Blythe Valley Park in Solihull.  The 260 acre park has been bought out of receivership by the Coleshill-based developer for a value close to £125 million.

Situated at Junction 4 of the M42, just five minutes from Solihull Town Centre and Birmingham Airport, Blythe Valley Park is the Midlands’ most prominent business park and is a high profile purchase for IM Properties. 

The site is split into two phases, the first of which includes 430,000 sq ft of existing accommodation spread across 11 buildings, with 44 acres of undeveloped land for future commercial development.  The second phase extends to 44 acres of development land, located at the rear of the site.

Both phases have outline permission for circa 1.5 million sq ft of predominantly B1 floorspace, with permission for a hotel and restaurant with sports facility in Phase 1. The existing 135 acre country park which bounds the site also forms part of the purchase.

John Hammond, UK Investment Director, IM Properties, said: “Blythe Valley Park is the most prominent and renowned business park in the Midlands and represents IM Properties’ most significant ever acquisition.  With key infrastructure in place and given the strong motorway connectivity this is one of the most desirable out of town office locations in the region and one of the most strategically located in the UK.

“2014 has been a very active year for IM and one where we have repositioned our investment portfolio to focus on the Midlands and the South East and the acquisition of Blythe Valley Park demonstrates our commitment to investing and developing in the West Midlands. 

“This asset will draw on all of our in-house expertise to work closely with existing tenants, whilst trying to secure new occupiers to the park through design and build development opportunities, looking to capitalise on the positive signs of recovery that we have seen in the M42 office market.”

In the Solihull Local Plan 2013, Blythe Valley Park is allocated for mixed use development, comprising 1.75 million sq ft of employment development, circa 600 dwellings and supporting facilities, which could include hotels, health and fitness, leisure, childcare facilities and other local facilities falling within Classes A1 to A5.

John Hammond continued: “Alongside the commercial element of the site, we are looking to create more of a mixed-use offering to complement the existing and future developments.  Business parks are not just about the office buildings themselves; it is vital to look at the bigger picture to provide the right amenity to support the requirements of our current and prospective tenants.  There is a great opportunity to fulfil the potential of Blythe Valley Park in terms of creating a real sense of place, connectivity and to maximise its true value as a number one business park location. 

“We have developed strong relationships with Solihull Metropolitan Borough Council over the past couple of years and we are looking forward to building on these relationships going forward to deliver future commercial and residential developments at Blythe Valley.”

The acquisition of Blythe Valley Park is another key purchase in the Solihull Borough for IM Properties, where it already owns existing stock including Solihull Business Park, Mell Square Shopping Centre and the recently acquired Fore Business Park.

Current occupiers at Blythe Valley Park include Arup, Siemens Plc, Balfour Beatty, Regus and St James’s Place Wealth Management Group.

IM Properties has appointed CBRE as joint letting agent alongside Savills, who have been retained.

For more information on IM Properties, please visit http://www.improperties.co.uk.

Fore further information on Blythe Valley Park, visit http://www.blythevalleypark.co.uk.