Frontier Estates’ joint venture with Opus Land is set to secure the West Midlands’ largest office investment deal this year.
The jv is poised to pay over £40m for the 52-acre TRW site in Shirley, Solihull, to develop a new 500,000 sq ft (46,450 sq m) business park.
Automotive firm TRW has negotiated a sale and leaseback on its offices, which total 183,000 sq ft (17,001 sq m).
The deal includes 25 acres of developable land.
A masterplan will be worked up over the next year. The £100m park will be built over the next five years.
Frontier beat off stiff competition from Hermes, CALA Homes and St Modwen.
Knight Frank advised Frontier and Opus. Colliers CRE acted for TRW.
None of the parties was available for comment.
References: EGi News 27/10/03
