Investors buy Birmingham development site

A development site in Perry Barr has been bought by property investors as it looks to target last-mile logistics providers.

Europa Capital and Sovereign Centros have acquired the 189,000 sq ft site next to the One Stop Shopping Center Shopping Centre for an undisclosed sum. The pair did a £70m deal for the retail park in December 2016.

They plan to submit a planning application for the development of 85,000 sq ft of logistics space on the new site.

Hugo Black, partner at Europa Capital, said: “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.”

The site is next to Perry Barr railway station and a mile from Alexandra Stadium, which will be the centrepiece of the Commonwealth Games.

Chris Geaves, of Sovereign Centros, added: “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.”

The site was acquired on behalf of Europa Fund V.