MK2 real estate invests in new office

Niche property investment consultancy MK2 Real Estate has relocated to a new office in Birmingham as it continues to expand its presence in the city.

The firm, which specialises in advising clients on property acquisitions, disposals and funding, has taken 700 sq ft on the first floor of Maddox House, on Edmund Street, on a five-year lease at a rent of £17.50 per sq ft from landlord Hortons.

MK2 was previously based at 102 Colmore Row.

The move tops off a successful first two years for MK2. Set up in 2010 by Mark Johnson and Mark Rooke, who previously worked together at CBRE and have more than 30 years’ experience in the property investment sector, MK2 has advised on 29 deals, of which 60 per cent were off-market, with a total value in excess of £90 million.

Two of its most recent deals include the £2.3 million acquisition of 20 Timothy’s Bridge Road, a 74,000 sq ft office and industrial building in Stratford upon Avon, on behalf of Morgan Sindall, and the £6.9 million acquisition of Shires Gate Trade Park in Leamington Spa on behalf of a private trust. Other clients include the Canal & River Trust, Hortons, Trebor Developments, Muse Developments Hinton Properties, David Samuel Properties and Orchard Street. At the beginning of June MK2 expanded its team with the appointment of Paul Rixon as a director to head up a new landlord and tenant and asset management team.

Paul, who has more than 24 years’ experience in the Midlands commercial property market, left his previous role as head of BNP Paribas Real Estate’s Birmingham office to join MK2. Acting on behalf of both landlords and tenants, Paul specialises in rent reviews and lease renewals on retail, leisure, office, industrial and logistics property, advising clients including IM Properties, Ignis Asset Management, M&G Real Estate, AXA and NSG Group.

Mark Rooke said:

“We are really pleased with the success we have achieved to date and the positive response we have had from clients. There were a few raised eyebrows when we decided to set up the business during the recession but we could see signs the market was improving and we wanted to be ahead of the curve and ready to make the most of the opportunities when it did.

Fortunately the gamble paid off and the business has continued to grow year on year, reaching a point where we felt it was the right time to expand the business further by bringing in Paul and moving to larger premises at Maddox House.

Paul is a great fit for the company as the landlord and tenant work he does complements what we do on the investment side of the business, enabling us to offer clients a more holistic and joined up asset management service, while the new office gives us the space to expand in the future.

Steve Tommy of Hortons said:

We are pleased that our flexible approach has attracted MK2 to Maddox House. By dealing direct we were able to understand their needs and agreed terms, which matched both our requirements. We now look forward to working with them as valued occupiers and consultants.