IM Properties the owner of Birch Coppice Business Park the home of Birmingham Intermodal Freight Terminal (BIFT) has boosted its construction management and development team whilst announcing available equity to increase its investment and development portfolios.
Following on from the departure of long standing commercial director Mick Jones, Kevin Ashfield has been appointed to manage the new development team after working in an asset management and investment role at IM for the last 10 years. Kevin Ashfield is joined at IM by new project manager Jason Jasper formerly of Barberry Developments.
IM Properties is setting aside equity to pursue new development opportunities by way of direct land acquisition, joint ventures, and short to medium term sale and lease back opportunities. This will complement the 400 acre (161ha) Birch Coppice Business Park where a 123 acre (49 ha) second phase planning application has recently been submitted for 2 million sq ft of B8 distribution space. BIFT inland rail freight exchange was opened in 2006 and receives containerised consignments from Southampton, Felixstowe and Thamesport docks.
“One of our major strengths has always been readily available equity coupled with a flat line decision making process driving an in house development team with a consistent reputation for delivery. Birch Coppice Business Park is as a good example where a former British Coal site has been transformed into an award winning development securing several blue – chip distribution covenants such as UPS, Ceva Logistics, Ceva Freight Forwarding and Birmingham Intermodal Freight Terminal.” said Tim Wooldridge, IM Properties managing director.
Commenting on the future strategy for the development team Kevin Ashfield said: “These are truly exiting times for a cash rich developer such as IM Properties. It is an excellent time to expand the business. I look forward to the challenge of growing the development portfolio and consolidating the position of Birch Coppice as one of the UK’s premier rail served distribution parks.”
Known in the industry as a company which holds its development schemes within its investment portfolio privately owned IM Properties currently has holdings in excess of £400 million in the UK, mainland Europe and the USA.
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