Avison Young secure sale of former Monarch Aircraft Engineering hangar at Birmingham Airport…
Acting on behalf of the Joint Administrators of Monarch Aircraft Engineering Limited, real estate services firm Avison Young has facilitated the successful sale of the Maintenance, Repair and Overhaul (MRO) hangar facility situated at Birmingham Airport. The state of the art facility has been sold to STS Aviation Group (STS) following a competitive marketing process.
The facility, constructed in 2013, extends to over 145,000 sq ft and benefits from a valuable 2 acre airside apron, and provides STS with a purpose built MRO hangar which will act as their central European hub.
“The hangar is an exceptional facility and Avison Young is delighted to have supported the Administrators from KPMG with the disposal process”, said Chris Davies, Associate at Avison Young Birmingham office.
“This was a unique instruction appealing to an international marketplace. Through a comprehensive marketing campaign and Avison Young’s worldwide network, a new owner has been secured, bringing a skilled workforce back to the region.
“The aviation sector is going through a period of change with consolidation both in the UK and internationally. This transaction demonstrates the strength of both the UK and Birmingham as a strategic MRO location.
“Avison Young has extensive experience in the aviation sector and continues to build on this success, advising both operators and airports on their property assets and strategic requirements.”
STS will employ new technical staff at the facility, steadily opening up new jobs as workload increases in line with Birmingham Airport’s forecasted growth, which expects passenger numbers to increase from 13 million to 18 million by 2033.
Go to the main page
Tags: Birmingham business Events, birmingham business news, Birmingham Events, Birmingham News, Business How to guides, Business Information Portal, graduate recruitment, The BIP, West Midlands Business News, West Midlands News