Star City goes on the market for £65m
Birmingham’s Star City has been placed up for sale by Quadrant for a reported £65m.
The 410,000 sq ft scheme was acquired by the asset management and development company in 2016 and has seen a number of changes in the years since then.
Since its purchase, the site has been rebranded, introduced a new management team, and seen a number of key areas repurposed. The scheme’s anchor tenants, Vue and Tenpin, have also undergone re-gears.
Planning permission has also been secured for the creation of a 4,000 sq ft drive-through restaurant as well as a 39,000 sq ft electric go-karting track at the scheme.
The property coming to market comes as Quadrant secures planning permission for a 100,000 sq ft logistics unit at Star City. The proposals would see part of the site which fronts the M6 Motorway as well as some of the leisure space replaced with a large industrial shed.
John Maddison, partner at Quadrant, said that the new industrial development will bring a much-needed employment space and contribute to the area’s “continued and phenomenal” growth.