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Prudential JV Buys Birmingham Business Park Site

LONDON-A joint venture between the Prudential, Frontier Estates and Opus Land has bought a major development site on the M42 south of Birmingham from TRW Automotive for pounds 40 million ($73 million).

By Graham Parker | Updated on January 21, 2004

LONDON-The Prudential, Frontier Estates and Opus Land have joined forces to snap up a prime business park site, close to junction 4 of the M42 motorway south of Birmingham. The site on the A34 Stratford Road includes 180,000 sq ft of office space, which will be leased back to the vendor TRW Automotive under a 17-year lease agreement. In addition there is 25 acres of development land.

Richard Smith, director of Opus Land, said: “The TRW site represents a fantastic opportunity for us and will once again deliver opportunities, create new jobs and boost the local economy. Our plan is to create a prime business park to compliment the infrastructure already put in place by TRW”.

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