Stoneweg InfraSport, the recently launched partnership between Stoneweg and Teras Capital has acquired the former Emerge Surf development site in Coleshill, Birmingham, from IM Properties, where it intends to deliver the UK’s largest wave park. The c. €58.5m commitment represents Stoneweg’s first investment in the UK.
The development, which benefits from excellent road and rail links, will be centred around a best-in-class, 21,853m2 man-made WaveGarden Cove surfing lagoon, able to generate 1,000 waves per hour, up to two meters high, with adjustable size and shape. Former Emerge Surf founder Steve Price will stay on as General Manager of the wave park, which is due to be completed in Q4 2025 and is expected to welcome up to 200,000 visitors per year.
Miguel de Lucas, Managing Partner at Teras Capital, commented: "We are excited to be leading this project, the second Stoneweg InfraSport investment. This new wave park in Birmingham represents our commitment to fuse sport and leisure, offering an innovative experience in what is the second-largest metropolitan area in the UK. This project will not only provide access to urban surfing for millions of people but will also become an international benchmark in terms of the facilities and entertainment offering for visitors."
Jaume Sabater, CEO of Stoneweg, added: “This project will see Stoneweg combine its real estate expertise and commitment to social impact through the delivery of a ground-breaking new development that brings one of the world’s most popular sports to the UK’s second-largest metropolitan area. We are also excited to have closed our first investment in the UK, one of Europe’s key real estate markets and one which has witnessed a strong post-COVID bounce back in demand for leisure activity. Our InfraSport strategy extends our track record of continually innovating and diversifying our product range to reflect changing consumer behaviour and to meet the demands of institutional capital for exposure to dynamic, experiential real estate that will deliver strong, long-term returns. This is a unique opportunity, alongside a best-in-class partner, to be a first mover in delivering a high quality, pan-European portfolio of leisure-led destinations, that capitalise on the growth prospects of what is one of the few truly global sports.”
Image provided by FTI Consulting.
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