Visitors to Star City in Birmingham will soon be able to experience the longest and fastest indoor karting track in the region, following a new leasing deal.
Asset manager and developer Quadrant has secured a string of new lettings at the 410,000 sq ft leisure-led mixed-use complex – including a 39,000 sq ft deal with Capital Karts on a 20-year lease from early 2024.
Capital Karts will operate an 800m double-height track with a fleet of electric karts that can reach up to 45mph.
Quadrant has also secured American fast food chain Taco Bell, which has taken 2,700 sq ft on a 10-year lease to open its first restaurant in central Birmingham.
Pakistani and Indian restaurant Shere Khan’s is expanding its existing 6,612 sq ft premises at Star City to incorporate an additional 7,772 sq ft unit on a 15-year lease. The new combined premises will be refitted and will include banqueting facilities.
Indian street food brand Chaiiwala has also signed a 10-year lease on one of Star City’s last available kiosk units totalling 386 sq ft, replacing sandwich restaurant Subway, which has moved to a larger space at the complex.
Quadrant has been overhauling the scheme since advising on its 2016 purchase on behalf of funds managed by a US-based global alternative asset manager.
Long-term leases with anchor tenants Vue and Tenpin have been re-geared and new tenants added including Costa Coffee and active entertainment brand Gravity. The weighted average unexpired lease term now stands at 13.1 years.
Earlier this year, Quadrant received planning consent for a 100,000 sq ft logistics unit and a new 4,000 sq ft drive-thru restaurant at the site and a refinancing has recently been secured with a UK commercial bank.
To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews
