Norwich Property Trust has acquired one of
The fund, managed by Morley Fund Management, paid £78m for the 280,000 sq ft development – an initial yield of 5.5%.
The Carlyle Skelton Group had owned the scheme since March 2005.
Built on the 5-acre former Birmingham Children’s Hospital site at Birmingham’s Five Ways, Broadway Plaza opened in June 2003 and is home to multiplex cinema operator AMC, Virgin Active, Frankie and Benny’s, Travelodge, Bowlplex and Broadway Casino.
King Sturge has been appointed as managing agent.
