Birmingham pub site acquired by Euro Garages
Specialist business property adviser, Christie & Co has brokered the sale of The Armada, a pub on Powick Road in Birmingham.
The extensive site has been sold to one of the UK’s fastest growing forecourt operators, Euro Garages Ltd, which plans to redevelop it into a mixed use site encompassing a forecourt and separate retail unit to be occupied by a multinational brand.
Josh Sullivan, Business Agent in Christie & Co’s Birmingham office comments, “Throughout the marketing process we experienced strong demand for the site from a wide range of buyers due to its commanding position opposite the Spaghetti Junction. Following a very successful campaign we managed to secure a bid in excess of the asking price with Euro Garages Ltd. We believe that this acquisition will positively impact the local area, creating jobs and providing extra services for the local community.
“We knew the site would be ideal for a number of individuals due to its scope for development. There is currently a lack of quality stock in and around Birmingham with the local market being so saturated, and we’re now seeing developers and operators competing against each other for the same opportunities in and around the city centre which is causing prices to inflate.
“This displays our ongoing relationship with Euro Garages as we aim to continue to identify further sites to fit with their expansion plans.”
The Armada was sold off a freehold asking price of £595,995.