AEW UK Core Property Fund has acquired the 3.14 acre Fiveways Entertainment Centre in Birmingham for £25.1M.
A landmark entertainment centre in Birmingham is let to 11 leisure tenants, including Cineworld, PureGym, a casino, nightclub and seven restaurants.
Edward Long, Director at AEW, commented: “We are pleased to have acquired this prime leisure asset located at the heart of Birmingham’s bustling night-time economy. The city has seen a renaissance over the past ten years, with significant developments such as Grand Central, Birmingham Library, Brindley Place, and numerous office and residential schemes.”
The Metro extension, costing £149M is due to be completed later in 2021, connecting Grand Central station with Edgbaston and providing a new tram stop directly outside the Fiveways complex.
Lunson & Mitchenall acted on behalf of AEW UK Core Property Fund.
