Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Birmingham's Grand Central to be sold in £335m deal

The new Grand Central shopping centre in Birmingham – home to John Lewis, Fat Face, Monsoon and Hobbs, among others – is to be sold to property firm Hammerson for £335m.

Grand Central

Grand Central

Hammerson has exchanged contracts with Birmingham City Council to acquire the scheme, which sits above the £750m redeveloped New Street Station.

Hammerson, which already owns Birmingham’s other well-known shopping centre, the Bullring, is also in “advanced discussions” with an existing joint venture partner about entering into a 50:50 joint venture for the future ownership of Grand Central.

The centre opened in September 2015 and is anchored by a 250,000 sq ft John Lewis. It includes 435,000 sq ft of retail space used by a number of fashion retailers including The White Company, Cath Kidston and Joules.

Following the opening, Birmingham became the only city outside London to have a John Lewis, Selfridges and Harvey Nichols.

Hammerson said the shopping centre attracted an average footfall of 62,000 people a day in its first three months of trading, with up to 105,000 a day over the Christmas period.

“By deploying our expertise from Bullring, as well as other shopping centres around the UK, Hammerson is well placed to further enhance the consumer offer in Birmingham,” said Hammerson chief executive David Atkins.

John Lewis managing director Andy Street said that the business’s 32nd full-line department store has enjoyed “a wonderful reception in the city”.

“Given Hammerson’s proven expertise in managing shopping centres it can only go from strength to strength,” he added.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.