A commercial development firm is looking for a finance partner to help it complete a project in Birmingham.
The developers of a large-scale office build in the centre of Birmingham are still looking for
commercial finance partners in order to complete the project.
Commercial development firm Ballymore have had the Snow Hill project on hold since the original backer Anglo Irish was crippled by the credit crunch and pulled away from commercial property, according to the Birmingham Post.
The first phase of the project was completed and is being occupied by auditor accountants KPMG and Barclays Wealth, as for the remaining two phases, one will be let to Wragg and Co., if completed.
Ballymore project director Richard Probert insists the development is a great opportunity for the right
property investment firm.
He told the publication: "Snowhill has already proved itself as providing the highest quality buildings in the city as well as attracting the major occupiers.
"To be able to develop such a scheme at this time in the market, with the benefit of a pre-let on over 60 per cent, is unique."
Real estate agent Jones Lang LaSalle recently suggested that a shortage of available manufacturing sites in the north-west could present commercial development opportunities.
Posted by Lisa Fear.
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