REAL ESTATE - Advantage West Midlands (AWM), one of the UK’s regional regeneration agencies, is offering a 50% stake in its real estate portfolio in return for funds to develop 47,000 sq metres of real estate.
The Birmingham-based agency last week issued a tender for the “management and refurbishment” of a portfolio comprising 23 sites. Industrial and office dominate the portfolio, which also includes some leisure and residential.
Spokesman Stuart Kirkwood said the involvement of a partner would accelerate existing developments. “We’re looking for expertise and resources, as well as some of their funds,” he said.
He added that likely bidders would be developers already active in the market or real estate funds that already have arrangements with developers.