Europa Capital, the pan-European real estate investment manager, in partnership with Sovereign Centros, has acquired a 17,555 sq. metre logistics development site in Perry Barr, Birmingham on behalf of Europa Fund V. The site is immediately adjacent to One Stop Shopping Centre and Retail Park, which was purchased by the partnership in 2016 and where the partnership has successfully increased the occupancy rate from 90% to 97%. Following completion of the development the partnership will own circa 43,000 sq. metres of built space in the area, providing significant opportunities for centralised property management.
Close to junction 6 of the M6, Perry Bar forms a suburb to the North of Birmingham City Centre and has a catchment of 373,000 people. The partnership will shortly submit a planning application for the development of circa 7,900 sq. metres of logistics space on the site.
Hugo Black, Partner at Europa Capital, commented: “Given its excellent strategic location being only a short distance from Birmingham city centre and close to a major motorway junction we anticipate the site will be of great interest to last mile logistics providers.”
Chris Geaves, of Sovereign Centros, said: “The site was sourced on an off-market basis and offers an excellent opportunity to regenerate the area alongside the significant investment that will be awarded by the Commonwealth Games in 2022, whilst any new logistics space will also support additional employment growth in the area.”
For further information, please contact:
Dido Laurimore/Tom Gough/ Eve Kirmatzis
FTI Consulting
Tel: 020 3727 1000
Europa@fticonsulting.com
Notes to Editors:
About Europa Capital:
Europa Capital is a real estate fund manager focused on European markets. For more than 20 years, Europa Capital has been delivering risk adjusted returns for a global audience of investors. We focus on investment returns driven by real estate fundamentals in both equity and debt strategies.
Since 1995, Europa Capital has collectively raised nine real estate funds and committed to over 128 transactions totalling more than €10.9 billion across 19 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Europa Capital is a member of Rockefeller Group International, Inc. (“RGI”), a subsidiary of Mitsubishi Estate Co. Ltd. RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
Further information can be found at www.europacapital.com
