Marylebone Warwick Balfour (MWB) is about to acquire Richardson Cordwell’s 18,580 sq m (200,000 sq ft) Fiveways leisure scheme in Birmingham for £48m.
The first phase of Fiveways is due to open in August. Virgin is to anchor the scheme with a 6,689 sq m (72,000 sq ft) cinema complex. Other tenants include Rank, which will operate a 1,858 sq m (20,000 sq ft) casino, Tiger Tiger, Henry J Beans, Nando’s and Waxy O’Connors. One 743 sq m (8,000 sq ft) unit remains available to let.
In September of last year, MWB set up its third leisure fund with £88.5m of institutional equity and to date has spent £60m on leisure schemes in the South East and at Eureka Park, a science and technology park at junction 9 of the M20.
EGi News 25/02/2000
