One of Birmingham's top property firms has taken its spending in the past three months to more than £10million with another acquisition.
Hortons’ Estate, working in conjunction with Trebor Developments, has exchanged contracts with Helical Bar Developments to acquire the former Co-op Dairy site on the Hagley Road.
The Hortons/Trebor joint venture plans to develop four retail units and has, at the same time, announced lettings of the first two units to Co-operative Group and American Golf Discount Centre.
Bob Tattrie, managing partner for Trebor Developments, said: “We are delighted to have had the opportunity to bring forward this high quality retail development in conjunction with our partners Hortons’ Estate, and plan to implement the scheme on a fast track basis to meet occupier requirements.
“We are also actively seeking similar opportunities in conjunction with Hortons.”
Richard Norgrove, property director of Hortons’ Estate, added: “This exciting development marks the opportunity to work with Trebor for the first time.
“However, in spite of the challenging market conditions and the fact that we have invested over £10 million in the last three months, we still have the funds available to invest, as and when further opportunities arise.”
The £4 million development will commence on site in October 2010 for completion in May 2011.
