A multi-million pound regeneration and investment programme is planned for a site in Solihull, thanks to a deal sealed by Bromwich Hardy.
Asper Property Group has purchased Manor Farm Craft Centre in Earlswood for an undisclosed sum, shortly before it was due to go under the hammer for auction.
Manor Farm Craft Centre, also known as Earlswood Lakes Craft Centre, is located on a 6.6-acre site, and had been on the market with a guide price of £1.25m.
Tom Bromwich, managing partner of commercial property agent Bromwich Hardy, negotiated the pre-auction deal directly with landlord The Bird Group.
Mr Bromwich said: “We recognised that Manor Farm Craft Centre presented a tremendous opportunity for investment and asset management.
“The site is home to a number of thriving businesses including the popular Wave Café, and we are pleased to have secured a deal for Asper before it went under the auctioneer’s hammer. This lot had garnered substantial interest, especially locally.”
Charlie London, managing director of Asper Property Group, said: “Manor Farm Craft Centre is a cherished local asset with enormous untapped potential.
“We are embarking on a multi-million pound regeneration programme to elevate the buildings, attract high-quality operators, and transform the wider estate into a best-in-class craft and leisure destination.
“This acquisition marks the beginning of a major regeneration strategy aimed at unlocking significant value for the community, our tenants, and the region.”
The centre currently has a gross annual rental income of £142,480, but London said they had identified significant opportunities to grow revenue and maximise usage of the site.
