SevenCapital has bought a nine-acre development site in Stirchley in Birmingham.
The site on the Pershore Road was owned previously by Tesco but has sat derelict for a number of years.
SevenCapital intends to turn it into a mixed-use residential and retail development.
Samuel Clark at SevenCapital said: “This site has languished for some time and given its location between Bournville, Selly Park, Moseley and Kings Heath the investment by SevenCapital will catalyse gentrification of this important Birmingham suburb.”
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