Henley and Sixth Street JV acquires Birmingham city centre shopping centre

A Joint Venture between Sixth Street, a leading global investment firm, and Henley Investments, a leading private equity real estate firm based in London, has exchanged on the purchase of Martineau Place in Birmingham.

Consisting of nearly 300,000 sq ft of retail, food and beverage, and healthcare space, Martineau Place is centrally located in Birmingham between the city’s Colmore Row office core, the new HS2 terminal, and the city’s prime retail area.
 
Current 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. Nearby, Hammerson is bringing forward the Martineau Galleries redevelopment, which would see 1,300 homes and 1.4m sq ft of offices built on the Square Shopping Centre, King’s Parade and Dale Street.
 
The investment follows the Joint Venture’s completion of Bedfont Lakes in May this year.
 
Justin Meissel, CIO and Managing Director Europe of Henley, says: “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. The high-quality tenant base will continue to benefit from the property’s central location and we look forward to working with tenants to maximise the long-term value of the property. We are actively seeking further investment opportunities in well located existing assets and development sites across the UK.”

BCLP, Avison Young and AGL acted on behalf of the joint venture.

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