Asper snaps up Solihull shopping hotspot

Investment firm Asper Property is eyeing up a “major regeneration” at Earlswood Lakes Craft Centre, after buying the popular retail hub for an undisclosed sum.

The six-acre shopping and craft destination, around five miles south-west of Solihull, was snapped up prior to going under the hammer, having been on the market with a guide price of £1.25m.

The move comes hot on the heels of last month’s sale of the 50,000 sq ft Earlswood Business Park by the group, which fetched over £3.2m.

Charlie London, managing director of Asper Property Group, said the destination was a “cherished local asset with enormous untapped potential.”

“We are embarking upon 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,” he said.

“Alongside improving the existing offer, we intend to drive forward a broader masterplan, pursuing new uses including the creation of a Padel Centre. This acquisition marks the beginning of a major regeneration strategy aimed at unlocking significant value for the community, our tenants, and the region.”

Tom Bromwich of commercial property agents Bromwich Hardy negotiated a pre-auction deal directly with landlords, The Bird Group.

“We recognised that Manor Farm Craft Centre presented a tremendous opportunity for investment and asset management,” he said.

“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.”