Opus Land and Mayfair Capital to develop Trinity Park office
Mayfair Capital Property Unit Trust (MCPUT), advised by Mayfair Capital and managed by Schroder Real Estate Managers (Jersey), has partnered with Midlands-based Opus Land to market and deliver an office building on the last remaining development plot at Trinity Park, Solihull.
Mayfair Capital’s thematic approach to investing looks to capitalise on long-term structural changes in the economy by identifying drivers of occupational demand across five key areas – change and disruption, connectivity, climate and environment, communities and clustering and consumer and lifestyle. Mayfair Capital represents clients in respect of three assets on the park which offers a strong thematic fit.
The one-acre development site known as T4, Trinity Park is well positioned for businesses in need of excellent connectivity, with the multi-modal transport options giving the site a level of connectivity matching that of city centre locations. Trinity Park is situated at the apex of the M42 motorway and the A45 Coventry – Birmingham Road, as well as being adjacent to Birmingham International Train Station and Birmingham Airport. The new HS2 station, Arden Cross, under a mile from the park.
The area is set to grow further as an urban centre, with the development of HS2, and offers quick access to amenities such as Resorts World, Living Well Health Club, Arden Hotel & Leisure Club and a wide range of shops and restaurants. This will support the attraction of Trinity Park to employees who increasingly aspire to live, work and play in close proximity – and to occupiers who are increasingly aware of their employees’ needs.
The development plot, which has the benefit of a previous office consent and can accommodate between 45,000 sq ft and 140,000 sq ft of Grade A office space, with a top specification akin to that of city centre offices.
James Feilden, fund director at Mayfair Capital, says: “This development site is adjacent to Building T3 which is an existing office holding for the Trust and provides an excellent opportunity to deliver a brand-new high-quality office building that meets occupational demand and showcase our client’s sustainability ambitions through a modern and energy efficient design. Trinity Park scores highly in respect of our thematic investment strategy. By targeting highly connected locations benefitting from high levels of infrastructure spend, this is likely to result in long-term occupational demand and, therefore, income growth.”
Nick Prince, senior fund analyst at Schroders, says: “We are confident that the project will provide investors an attractive return and also deliver environmentally efficient accommodation in line with our wider sustainability objective.”
Tom Edgar, development director at Opus Land, says: “We are delighted to have concluded a deal in the depths of lockdown that will provide a new generation of building to meet the changing needs of occupiers.”