Sirius Real Estate has sold BizSpace Tyseley Business Park in Birmingham for £6.7m.
Sirius acquired the asset for £5.1m in November 2021 as part of the BizSpace acquisition and increased the rent roll of the site by 30%.
The 134,000 sq ft business park comprises 125,000 sq ft of industrial space and 9,000 sq ft of office space.
Andrew Coombs, chief executive officer of Sirius Real Estate, said: “The sale of this asset at a substantial 20% premium to book value highlights our success in improving the rental tone since Sirius acquired BizSpace in November 2021. This transaction demonstrates our platform’s ability to attract higher-paying quality occupiers and effectively execute strategically timed deals, enabling efficient capital recycling into our acquisition pipeline.”
