Big plans for new logistics development

A LOGISTICS development site in north Birmingham has been bought by Europa Capital, the pan-European real estate investment manager.

Working in partnership with London-based property investor and manager Sovereign Centros, it has acquired a 188,960 sq ft site next to the One Stop Shopping Centre in Perry Barr.

One Stop was purchased by the partnership in 2016.

Following completion of the development, the partnership will own around 462,850 sq ft of built space in the area. An application will be submitted for the construction of around 85,035 sq ft of logistics space.

Europa Capital director James Brodie said: “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, chief executive of Sovereign Centros, added: “The site offers an excellent opportunity to regenerate the area alongside the significant investment that will be awarded by the Commonwealth Games in 2022 while new logistics space will also support employment growth.”