Taco Bell among latest tenants at Star City in Birmingham
Capital Karts and Taco Bell are among the latest additions at Star City, the 410,000 sq ft leisure-led mixed-use complex just outside Birmingham city centre.
Capital Karts has signed for 39,000 sq ft on a 20-year lease, from early 2024 to operate what will be the longest and fastest karting track in the Midlands.
The 800-metre double-height track will have a fleet of electric karts that can reach up to 45 mph, making it the UK’s second indoor track after Capital Karts’ track in London to achieve this speed.
The popular Pakistani and Indian restaurant Shere Khan’s is expanding its existing 6,612 sq ft premises to incorporate an additional 7,772 sq ft unit, merging both units to a total 14,384 sq ft on a 15-year lease. The new combined premises will be refitted and will include banqueting facilities.
In addition, Taco Bell has taken 2,700 sq ft on a ten-year lease to open its first restaurant in central Birmingham.
Indian street food brand Chaiiwala has also signed a 10-year lease on one of Star City’s last available kiosk units totalling 386 sq ft, replacing sandwich restaurant Subway which has moved to a larger space at Star City.
Quadrant, the UK real estate asset management and development company, is the asset manager on the complex.
Since advising on its purchase in late 2016 on behalf of funds managed by a US-based global alternative asset manager, Quadrant has overhauled the Star City scheme with a re-branding and repurposing of key areas. Long-term leases with anchor tenants, Vue and Tenpin, have been successfully re-geared, while new tenants secured in addition to the recent lettings include active entertainment brand Gravity and Costa Coffee. WAULT has been improved and now stands at 13.1 years.
Earlier this year, and as part of a longer term potential, Quadrant received planning consent for a new 100,000 sq ft logistics unit and a new 4,000 sq ft drive-thru restaurant at Star City.
A refinancing has recently been concluded with a leading UK commercial bank.
John Maddison, partner at Quadrant, said: “Our aim with Star City was to create a truly unique entertainment and leisure complex for the Midlands. Adding the region’s longest and fastest indoor karting track and Birmingham’s first Taco Bell continues this ambition, and Shere Khan’s continued and extended lease is a great reflection of the site’s strong trading performance. These latest signings are a great addition to the mix of attractions that keep people coming back here time and time again.”
