Vita Group has acquired Axis Square, a 4.15-acre regeneration site that was formerly Birmingham Central Goods Station, from LCR.
The city centre site is adjacent to the Mailbox and Arena Central.
It has existing planning consent for a mixed-use development, but Vita will consult later in the year on a new masterplan under the name of Goods Station.
Mark Oakes, chief commercial officer at Vita, said: “Axis Square is an incredible opportunity, situated in the heart of the city centre, it offers bags of potential to do something special, something which the city can be proud of, something which brings the city together to create a vibrant destination.
“Goods Station has the opportunity of becoming a true landmark destination within the city, fantastic places to live which attract talent, add to the growing economy and draw in tourism.”
Peter Hawthorne, chief executive at LCR said: “We have been working for a number of years to help the site realise its potential through enabling wide-scale regeneration and are now excited to be able to handover to Vita to continue the transformation that we started and create a vibrant new destination in the city centre.”
Savills provided agency services on the deal, with Deloitte and Shoosmiths providing legal counsel for Vita Group and Eversheds Sutherland acting for LCR.
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