Alex Watson, founding partner at Fortix Capital, expressed confidence in the acquisition, noting that the Aztec West property successfully pairs secure tenant income with a highly popular business park location.
He pointed out that Miller Homes committing to a long-term lease demonstrates the property’s underlying quality. Watson also noted that because the building’s current rents are still below average market rates, Fortix has a great opportunity to increase revenue through active asset management.
The deal sees Fortix Capital buy the 715 Aztec West ¡property for £2.62 million. Fully occupied by three separate tenants, the detached, two-storey building covers 17,587 square feet and sits just a short drive from junction 16 of the M5 motorway. Having undergone substantial refurbishments in both 2014 and 2023, the site boasts strong fundamentals.
The current tenant lineup includes Miller Homes on a fresh ten-year lease, local defence firm Antillion, and tech company Imagination Technologies.
Fortix Capital was represented by AP Chartered Surveyors and Gunner Cooke during the transaction, while Hartnell Taylor Cook and CBRE worked on behalf of the seller. James Ackrill, another founding partner at Fortix, emphasized that the purchase fits perfectly with their ongoing strategy. He explained that the joint venture looks specifically for high quality, fully-let assets where hands-on management can build significant value over time.
This purchase marks the third successful acquisition for Fortix Capital since its launch earlier this year, following earlier investments in Birmingham’s Jewellery Quarter.