Europa Capital buys logistics development site for value-add fund
Europa Capital, in partnership with real estate investor Sovereign Centros, has acquired a 17,555sqm logistics development site in the West Midlands region in England on behalf of its fifth European value-add fund.
The pan-European real estate investment manager said the partnership bought the site in Perry Barr, Birmingham from an undisclosed vendor for Europa Fund V.
No financial details were disclosed.
Europa said the partnership will shortly submit a planning application for the development of around 7,900sqm of logistics space on the site.
James Brodie, a director at Europa Capital, 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, 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.”