Global investment firm Sixth Street and private equity real estate firm Henley Investments have purchased Martineau Place in Birmingham in a joint venture, Property Week can reveal.
The shopping centre has nearly 300,000 sq ft of retail, food and beverage, and healthcare space.
Tenants at Martineau Place include Boots, Sainsbury’s, Argos, Poundland and Burger King, with a food occupier-led, pedestrianised street known as Martineau Way running through the centre of the scheme.
Meanwhile, Hammerson is bringing forward the Martineau Galleries redevelopment, which will see 1,300 homes and 1.4m sq ft of offices built on The Square Shopping Centre, King’s Parade and Dale Street.
Justin Meissel, Chief Investment Officer and Managing Director Europe at Henley said:
”We are pleased to have completed another successful acquisition with Sixth Street, as our Joint Venture continues to find value in assets requiring deep local real estate understanding, active management and experienced oversight.
Martineau Place sits in a phenomenal, central location, adjacent to the future Curzon Street HS2 terminal, in an area in the nascent stages of regeneration.
BCLP, Avison Young and AGL acted on behalf of the joint venture.