REAL ESTATE - Advantage West Midlands (AWM), one of the UK鈥檚 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 鈥渕anagement and refurbishment鈥� 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. 鈥淲e鈥檙e looking for expertise and resources, as well as some of their funds,鈥� 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.
