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Business

Financial group buys Birmingham pub for £3.2m

AFH acquires the Canal House which reopened last summer after undergoing a major programme of renovation

The Canal House has been bought by AFH(Image: Jonathan Hipkiss)

A West Midlands financial group has bought a Birmingham pub which recently reopened after undergoing a major renovation.

AFH Financial Group has acquired The Canal House, on the city's Gas Street Basin, for £3.2 million.

The Canal House is the second public house the £100 million group has bought following its acquisition of the Sir John Arderne in Nottinghamshire.

The Canal House, previously known as James Brindley, reopened in August after lying vacant and unused for eight years.

Richard Bryan, property investment fund manager at Bromsgrove-based AFH, said: "Birmingham's vibrant social scene continues to attract large numbers of people from across the West Midlands and beyond.

"The Canal Side's location at the heart of Birmingham's thriving canal side, close to Brindleyplace and the Mailbox, made it an attractive purchase as part of our ambitious strategy to expand our property portfolio substantially within the next five years.

"We look forward to working with the Canal House's managers, New World, to maintain and enhance its record as a popular and successful venue."

AFH's property portfolio also includes retail stores such as Halfords, the Range and B&M and industrial units in Birmingham, Warwick and Rotherham.

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