Evolve Estates, part of commercial property and investment collective M Core, has acquired Park Point, a 66,382sq ft mixed-use scheme at the centre of Longbridge’s new town centre development
Completed in 2013, Park Point comprises a mixed-use scheme arranged as a 75-bedroom Premier Inn hotel, eight ground-floor retail and leisure units, and three storeys of Grade A office accommodation.
The property is let to several high-profile tenants, including Greene King Brewing and Retailing Limited, Costa Limited, Biotest (UK) Limited and Phil Jones Associates Ltd.
Park Point is strategically located in Longbridge town centre, approximately 6.5 miles south of central Birmingham. The expansion into West Longbridge is now underway.
Joe O’Keefe, co-founder at Evolve, said: “We were attracted to the mixed-use nature of Park Point, the income profile, location and spread of both tenants and sectors.
“Longbridge is one of the largest regeneration schemes in the UK and further investment is planned to bring new jobs to the area. It benefits from a strategic location with excellent transport links and is underpinned by great services. This and our proven track record in managing diverse assets make an attractive proposition.”
Damian Lloyd, Avison Young acted for Evolve and Nick Wood, Savills acted for the Vendor.
