Deals agreed for Starbucks drive-through

Real estate investor Custodian has completed agreements on a site in Maypole, Birmingham which will see offices replaced with a Starbucks drive-through.

The 0.4 acre site on the A435 Alcester Road has been pre-let to Starbucks on a 15 year lease. It had previously been home to Moss Construction, but the company vacated six years ago and the majority of the office space has remained vacant.

The forward funding agreement for the £1.75m development, together with the purchase of the £1.0m development land, has now been finalised. The unit will be developed by Deeley Properties.

Richard Shepherd-Cross, managing director of Custodian Capital, said: “The growth of drive-through stores is being driven by the likes of Costa, Starbucks and Greggs and is proving popular with retailers and customers, which is leading to rental growth in the sector.

“The location of this property on an arterial access route for Birmingham city centre allows easy accessibility for traffic both entering and leaving the city, enhancing the site’s offering.”