Birmingham City Council has purchased a five-acre retail park in the heart of Sutton Coldfield.

The off-market £15.6million deal means the country’s largest local authority, and largest landowner of property in Birmingham, will take on Newhall Walk Retail Park.

The five-acre, 126,333 sq ft site is home to retailers including Aldi, TK Maxx, TGI Fridays, Waterstones and Vodafone.

The deal for Newhall Walk Retail Park aligns with the Royal Sutton Coldfield Town Centre Masterplan Which aims to evolve and reimagine the town to better meet the needs of residents while appealing to visitors and investors.  

Cllr Ian Ward, leader of Birmingham City Council, said: “Newhall Walk Retail Park is a prime and well-established asset in the heart of Sutton Coldfield, one that can have a strong role in the future of the town as it looks to evolve its offer and attract more locals, visitors and investors.

“As part of the Royal Sutton Coldfield Town Centre Masterplan, our focus will be on building an even stronger destination, including a unique shopping and leisure experience, and this deal will enable us to make progress on achieving this.”

Avison Young acted on behalf of Birmingham City Council on the deal.

The firm’s Real Estate Management Services team has been retained to work alongside the Council on asset, property and facilities management.

Damian Lloyd, investment specialist and lead for Birmingham City Council property investment at Avison Young, added: “Strategic investment decisions that improve environments and experiences for those that live, work and interact with towns and local centres, as well as cities, are at the heart of Birmingham City Council’s property portfolio and ambitions.

“The acquisition of Newhall Walk Retail Park is a prime example of this in practice, fresh off the approval of the Masterplan and demonstrating pace and purpose in delivering for Sutton Coldfield.

“With wider plans in place, we hope that this is a springboard for further investments, alongside our work to drive value from its existing portfolio.”

Royal Sutton Coldfield Town Council leader and chair of the town’s Regeneration Partnership, Cllr Simon Ward, said: “It’s brilliant news. I think it’s a really important step on our journey on the delivery of a new town centre for Sutton Coldfield. The town council has led this journey and set out in the masterplan a vision for what the town centre should be.

“It’s fantastic to see land owners and Birmingham City Council in particular buying into this vision. This is a really significant move enabling us to deliver the big moves in the masterplan.” 

Savills acted for the vendor.