Europa Capital, acting in partnership with Sovereign Centros, has acquired a 17,555m² logistics development site in Perry Barr, Birmingham. The site is immediately adjacent to One Stop Shopping Centre and Retail Park, which was purchased by the joint venture in 2016. Following completion of the development, the partnership will own circa 43,000m² of built space in the area, providing significant opportunities for centralised property management. The site is expected to house c.7,900m² logistics development. The purchase price was not disclosed.
James Brodie, Director at Europa Capital, commented: “Given its excellent strategic location being only a short distance from Birmingham city centre and close to a major motorway junction we anticipate the site will be of great interest to last mile logistics providers.”
Chris Geaves, of Sovereign Centros, said: “The site was sourced on an off-market basis and offers an excellent opportunity to regenerate the area alongside the significant investment that will be awarded by the Commonwealth Games in 2022, whilst any new logistics space will also support additional employment growth in the area.”