BPG and SAV Group, owners of the Gracechurch shopping centre in Royal Sutton Coldfield, West Midlands, have signed a deal with Australian retailer Harvey Norman for a new store and UK headquarters.
Harvey Norman has signed for 52,500 sq ft on a 20-year lease at the centre.
The West Midlands Combined Authority is supporting plans to revitalise the 250,000 sq ft centre through multimillion-pound investments aimed at creating new homes, leisure, retail, commercial and other mixed-use developments.
It is also backing Harvey Norman’s expansion, assisting the retailer in identifying potential investment sites and collaborating with local skills teams.
These investments come in the wake of the UK-Australia Free Trade Agreement, implemented in May 2023, which has streamlined access to the UK market for Australian businesses.
The West Midlands has continued to attract foreign direct investment, recording a 72% increase in FDI projects, according to the latest EY UK Attractiveness Survey.
Birmingham also achieved a record 67 FDI projects, the highest number for a regional city in the past decade.
This deal follows the successful opening of Harvey Norman’s flagship store at Merry Hill shopping centre in October last year.
Katie Page, chief executive officer at Harvey Norman, said: “The West Midlands’ high-grade retail space and exceptional connectivity are two key reasons why we’ve chosen Sutton Coldfield as the home of our new UK headquarters and to launch our next store here. Gracechurch will provide an excellent hub for our growing UK team and I look forward to returning to the region soon as we progress our expansion plans.”
Richard Parker, mayor of the West Midlands, said: “Harvey Norman’s investment is a big win for Sutton Coldfield. It’s proof that our high streets can thrive again, creating jobs and giving people more reasons to visit, shop and socialise. With new jobs and homes on the way, we’re delivering real opportunities and making this town a great place to live and work.”
Send feedback to Shifali Gorka
