Costa Coffee to be built at business park

Real Estate Investors has been granted planning permission for a drive-through Costa Coffee restaurant at Topaz Business Park on Junction 1 of the M42 just north of Bromsgrove.

Birmingham-based REI will now build the restaurant, designed by architects Corstorphine & Wright, for Costa Coffee which has taken a 15 year lease on an initial rental of £85,000 a year.

Ian Clark, director of asset management at REI, said: “With permission in place, we can now set about the next stage of the project, the build and delivery of a new Costa Coffee restaurant with completion scheduled for late 2023.

“This prime site is located on land within Topaz Business Park, which REI acquired for £4 million in 2018 from Worcester property developer Maximus.”

Topaz Business Park comprises ten high specification, modern units totalling 44,700 sq ft with tenants including M V Kelly, Handelsbanken, Toshiba and Instinctive Technologies.

Stephen Summerfield at Stephen James Property advised REI and Donna Barnes at law firm Shakespeare Martineau acted for REI.