AWG wants to sell Broadway Plaza, its 280,000 sq ft Birmingham leisure scheme.
Built on the five-acre former Birmingham Children’s Hospital site at Birmingham’s Five Ways, Broadway Plaza is on the market for £56m — an initial yield of 6%.
The scheme opened in June 2003 after two years of delays due to construction issues.
Local agents said it floundered because of the delays and its location, slightly off Birmingham’s leisure pitch.
There are still 12 vacant units. Existing tenants include a 12-screen AMC cinema, Esporta, Bowlplex, Broadway Casino and Frankie & Benny’s. Broadway also has a 1,300-space car park.
Rupert Young — head of CBRE’s Birmingham office, which is advising AWG with Donaldsons — said: “AWG believes it has gone as far as it can go with the scheme. It’s wholly appropriate to sell in the present market.”
