We are delighted to have advised Legal & General’s Leisure Fund.
LGIM Real Assets (Legal & General) has acquired Broadway Plaza in Birmingham, on behalf of its Leisure Fund (the “Fund”), from Aviva Investors, for £46.95 million, growing the Fund to over £600 million.
The 280,000 sq. ft leisure development is anchored by a brand-new Odeon Luxe Cinema along with a Hollywood Bowl, Travelodge, Nuffield Health, Rock Up and an independent casino. The scheme is also soon to open an indoor adventure golf offer to add another large footfall generator. The scheme generates a total net income of approximately £3.5m per year.
Mark Smith of KLM Retail comments: “The scheme has seen significant improvements in the past 18 months and with the opening of the Odeon Luxe and new Hollywood Bowl, the scheme is the dominant leisure offer in Birmingham city centre with further potential to move forward.”
For more details and opportunities please contact Mark Smith.