Evolve Estates snaps up mixed-use scheme

Property investment firm Evolve Estates has added Park Point, a mixed-use site in Longbridge town centre, to its portfolio.

The 66,382 sq ft property, which includes a hotel, offices, retail and leisure units, is a key part of the area’s regeneration.

Park Point, completed in 2013, is home to major tenants such as Premier Inn, Costa, and Greene King.

Joe O’Keefe, co-founder at Evolve said: “We were attracted to the mixed-use nature of Park Point, the income profile, location and spread of both tenants and sectors. Longbridge is one of the largest regeneration schemes in the UK, and further investment is planned to bring new jobs to the area. It benefits from a strategic location with excellent transport links and is underpinned by great services. This and our proven track record in managing diverse assets make an attractive proposition.”

Damian Lloyd, Avison Young acted for Evolve and Nick Wood, Savills acted for the Vendor.