Opus Land 2018 In Review
Opus Land are finishing off 2018 in a whirlwind of activity, following the successful sale of 54 Hagley Road, a 140,000+ sq. ft multi-let office; a win with joint-venture Manse Opus at the West Midlands Property Awards, and rapid progress on the development of the Manse Opus 2 million sq. ft site at Prospero Ansty.
Following such a busy period, they are now looking to 2019 and are actively seeking new opportunities to invest. Their requirements are unconditional purchases, subject to planning and promotion agreements, in the following sectors:
- Industrial and brownfield land; of between 5-200 acres in the Midlands for purchase or partner under promotion agreements;
- Office refurbishments; acquisitions at sub replacement value in strong commercial locations;
- Multi-let, short term income; acquisitions of short term income to re-gear or obtain vacant possession for redevelopment to residential or commercial uses;
- Retail roadside and retail warehousing opportunities; 0.5 acres site with roadside retail potential and existing/new build retail warehouse investments; or
- Hotel and residential sites; land or vacant buildings around transport hubs or in town centre locations for hotel or PRS.
Opus Land have c. £200m to invest in Q1 2019 supported by their long term funding partner and shareholder, Palmer Capital.
RETAIL: Stove Works Retail Park, Royal Leamington Spa
Opus Land and Savills Investment Management purchased a brownfield site, which was formerly a Ford Factory car park and obtained planning for a 60,000 sq. ft retail space, located just 0.5 miles from the town centre and 15 minutes’ walk from the train station.
INDUSTRIAL: Prospero, Ansty
Together with their joint venture partner, Manse LLP, and on behalf of Rolls-Royce, Opus Land are delivering more than 2 million sq. ft of space at Prospero, Ansty, starting with a 490,000 sq. ft manufacturing facility for Meggitt PLC.
WAREHOUSE: Conneqt Alpha
Opus Land and Bridges completed an 153,800 sq. ft unit with 16 loading doors at the Kingwood Lakeside Business Park in Cannock.
OFFICES: 54 Hagley Road, Birmingham
A 160,950 sq. ft multi-let office, three miles from Birmingham city centre which underwent a comprehensive refurbishment programme by Opus Land and was sold for £24.25m.