Blue Marble acquires retail investment

Blue Marble has acquired a Co-operative convenience store in Staffordshire for a real estate investment group.

Acting on behalf of a Harpreet Banwait, managing director of Real Estate Investments Group, Tim Matthews, chief executive of Birmingham-based real estate asset management company Blue Marble, acquired the freehold of a new convenience store in Kings Bromley.

Real Estate Investments Group is a subsidiary of Banwait Group Holdings.

Let on a 15 year lease to Co-operative Group Food, the freehold of the purpose built 3,000 sq ft convenience store on Manor Road was purchased for a seven figure balance inclusive of transaction costs.

Nick Ayles of AHBN represented the unnamed vendor.

Matthews says: “This is a good strategic purchase for Real Estate Investments Group.
“Harpreet Banwait is a new client to Blue Marble and seeking to build a mixed commercial property portfolio, so we are looking for other investment opportunities which meet his requirements.”

Banwait added: “Real Estate Investments Group was recently set up to develop a significant portfolio of high quality, safe, income protected returns.  All acquisitions are to be made from existing cash resources.  One of REIG’s greatest strengths is its ability to move quickly by recognising value and closing the deal – a result of its ready access to capital.  We will be working very closely with Blue Marble Asset Management on future opportunities.”

Kings Bromley Co-operative Store.