Galliard Homes and Apsley House Capital have acquired a vacant Sainsbury’s food store in Selly Oak town centre with a view to delivering a £160m GDV mixed-use scheme on the site.
The joint venture Galliard Apsley Partnership, which was formed in 2016 with the aim of acquiring brownfield sites in the West Midlands to provide quality mixed-use schemes, has major plans for the 13,250 sq m site, which was acquired for an undisclosed price.
Gerard Nock, chairman at Apsley House Capital, said: “Apsley House Capital is committed to Birmingham bringing new investment and economic benefits into the region as evidenced in our work at our other key sites. At Selly Oak we can look to create a dynamic mixed-use destination ensuring the sustainability of this strategic site at the heart of the town centre.”
Stephen Conway, chairman and CEO at Galliard, added: “We are delighted and excited to have acquired the site. We look forward to working with the local community to revitalise the site with a refreshed residential and retail provision and improved public realm.”
Will Jordan, head of Birmingham residential development at Knight Frank, which advised on the deal, said: “Anyone local to Birmingham will be well-aware of this prominent Selly Oak site. It has been identified for redevelopment for some time, and currently stands vacant. The site is prime for redevelopment and enjoys an excellent location, and we’re delighted that we were able to broker this deal between Sainsbury’s and Galliard Apsley Partnership.”
Colliers advised Sainsbury’s on the disposal.
