Evolve Estates acquires Longbridge mixed-use scheme
Evolve Estates, part of M Core, has acquired Park Point, a mixed-use scheme in Longbridge town centre.
Completed in 2013, Park Point spans 66,382 sq ft and comprises a 75-bed Premier Inn hotel, eight ground floor retail and leisure units, and three storeys of office accommodation.
Tenants include Costa Coffee and Greene King Brewing.
Located approximately six miles south of central Birmingham, Park Point is a landmark property that forms part of the wider Longbridge town centre development.
Joe O’Keefe, co-founder at Evolve Estates, 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.”
Avison Young acted for Evolve Estates, Savills acted for the vendor.