Galliard Homes and Apsley House Capital acquire prominent Selly Oak retail site
Residential and mixed-use developer Galliard Homes and developer and investment firm Apsley House Capital have acquired the former Sainsbury food store site in Selly Oak town centre. The Galliard Apsley Partnership plan to revitalise the retail centre to deliver a successful mix used scheme.
Galliard Apsley Partnership has major plans for the site, which boasts significant development potential with an approximate GDV of £160 million. The site spans approximately 13,250 square meters and comprises an empty former Sainsbury’s grocery store with its associated parking lot and servicing facilities.
The objective of the project is to revamp the vacant site located in the centre of Selly Oak High Street. The goal is to enhance the link between the conventional High Street retail experience to the east, the retail parks to the north, and the residential areas to the south and beyond. The plan involves introducing updated retail services, high quality purpose-built student accommodation, premium commercial offerings, and enhancing the public space.
The site is the most recent acquisition by the joint venture partnership, which was formed in 2016 with the aim of acquiring brownfield sites in the West Midlands to provide quality mixed-use schemes. The partnership has established an impressive property portfolio, having acquired sites across the city. Including The Timber Yard on Pershore Street in Birmingham’s Southside district. The Timber Yard, which was completed in 2022 consists of 379 apartments and 9,257 sq ft of ground floor commercial space.
In addition to the Timber Yard the JV partnership is nearing completion at their site in Soho Loop, a 12-acre plot on Birmingham’s Main Line Canal, delivering 110 houses and 650 apartments, while their development on Belgrave Middleway will consist of 438 residential homes.
The acquisition was advised by global property consultancy Knight Frank.
Will Jordan, Head of Birmingham Residential Development said: “Anyone local to Birmingham will be well-aware of this prominent Selly Oak site. It has been identified for redevelopment for some time, and currently stands vacant. The site is prime for redevelopment and enjoys an excellent location, and we’re delighted that we were able to broker this deal between Sainsbury’s and Galliard Apsley Partnership.”
Gerard Nock, Chairman at Apsley House Capital commented: “Apsley House Capital is committed to Birmingham bringing new investment and economic benefits into the region as evidenced in our work at our other key sites. At Selly Oak we can look to create a dynamic mixed-use destination ensuring the sustainability of this strategic site at the heart of the town centre.”
Stephen Conway, Chairman and CEO at Galliard stated: “We are delighted and excited to have acquired the site. We look forward to working with the local community to revitalise the site with a refreshed residential and retail provision and improved public realm.”
Colliers advised Sainsbury’s on this disposal.