One of the UK's largest family-owned hairdressing groups has acquired a commercial unit at CALA Homes (Midlands) Post Box mixed use scheme in Birmingham city centre.
Reflections plans to move its Birmingham Training Academy from space above its Cannon Street salon into unit 2 at Post Box on Commercial Street next spring.
Clive Barrett, chairman of Reflections, which has 18 hair-dressing salons located throughout the South-west and Midlands, acquired the 5,106 sq ft commercial space on a 150-year lease for a sum in excess of £1 million. The company also plans to invest more than £500,000 in equipment and new facilities and increase the floor space to 8,000 square feet by installing a mezzanine floor.
CALA Homes (Midlands) developed the £24.5 million Post Box mixed use scheme with 258 one and two-bedroom apartments and 7,068 sq ft of commercial space split into two units. In 2004 the Birmingham-based housebuilder pre-sold all the apartments to Irish residential property investment company Earthquake in one of the largest apartment deals concluded in Birmingham.