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Quadrant reaches for £60m Star City buy

Quadrant Estates has exchanged contracts to acquire the landmark Star City entertainment centre on the outskirts of Birmingham city centre from Cerberus Capital Management for a price below the £60m sought, CoStar News understands.
By Chris Borland
November 10, 2016 | 8:00 P.M.

The deal would represent a net initial yield in excess of 9% for the UK's largest regional leisure scheme, prominently situated by the M6 motorway, just a couple of miles out of the city centre, according to market sources.

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  • Properties