Financial services firm splashes out on canalside pub
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One of the latest additions to Birmingham’s pub scene, The Canal House, has been bought for £3.2m.
Financial services firm AFH has bought the property, which is in the Gas Street Basin next to the Arena Central development.
AFH is a wealth management group that is growing quickly, with its strategy of acquisitions resulting in 15 deals in 2017. It also has ambitions to expand its property portfolio, and the deal for The Canal House is part of its five-year plan.
The Canal House opened in August 2017 after a multi-million-pound investment by the New World Trading Company transformed the derelict former James Brindley pub.
Richard Bryan, property investment fund manager at AFH, said: “Birmingham’s vibrant social scene continues to attract large numbers of people from across the West Midlands and beyond.
“The Canal Side’s location at the heart of Birmingham’s thriving canal side, close to Brindley Place and the Mailbox, made it an attractive purchase as part of our ambitious strategy to expand our property portfolio substantially within the next five years.”
AFH already owns the Sir John Arderne pub in Newark-on-Trent, while its wider portfolio includes retail stores in Redditch, Shrewsbury, Burnley and Bodmin, and industrial units in Birmingham, Warwick and Rotherham.