Real Estate Investors' (REI) mixed use complex at Latitude in
Birmingham's China Quarter is now nearing full occupancy.
West Bromwich agents Bond Wolfe, acting for Birmingham-based
REI, saw the Purple Bar & Lounge open ahead of Christmas.
Now the penultimate unit remaining is under offer, with a
Chinese supermarket set to take 800 sq ft of premises on a ten year
lease at £19,000 per annum.
Electrical contractor Matthew Clayton, for whom the Purple Bar
& Lounge is a new venture, said the business was doing well
despite launching in the teeth of the December bad weather.
The venue, 1,578 sq ft at Latitude units ten and eleven, taken
on a ten year lease, has a capacity of 220.
Fitted to a high standard, it offers specialist cocktails and
food.
James Mattin, Bonde Wolfe managing partner, said: "The Purple
Bar & Lounge has shown exactly what can be done with a blank
canvas at Latitude.
"In return for a substantial rent free period they were able to
go in and fit out the space to their exact requirements rather than
having to work around an existing layout. With nearly all units at
Latitude let, we are delighted with how the marketing programme has
gone."
Purple Bar & Lounge joins a mixture of other tenants
including bars, restaurants and a beauty salon.
Real Estate Investors, headed by property investor Paul Bassi,
acquired the unbroken retail parade for £2.25 million "off
plan" in 2008 from George Wimpey City.
Sited on the corner of Hurst Street and Bromsgrove Street,
Latitude is an eight storey, mixed-use development made up of 189
designer apartments over seven floors and 12,000 sq ft of
commercial retail space at ground level.