Blue Marble Asset Management (Blue Marble) has acquired a Co-operative convenience store in an affluent Midlands commuter village.

Acting on behalf of a Harpreet Banwait, Managing Director of Real Estate Investments Group Limited, Tim Matthews, Chief Executive of Birmingham-based real estate asset management company Blue Marble, acquired the freehold of a new convenience store in the Staffordshire Village of Kings Bromley.

Real Estate Investments Group Limited is a subsidiary of Banwait Group Holdings Limited.

Let on a 15 year lease to Co-operative Group Food Limited, the freehold of the purpose built 3,000 sq ft convenience store on Manor Road, Kings Bromley, DE13 7HZ, was purchased for a seven figure balance inclusive of transaction costs. Nick Ayles of AHBN represented the unnamed vendor.

Mr Matthews says:

“This is a good strategic purchase for Real Estate Investments Group Limited. Having previously lived in the village, I know the Co-op store is in an absolutely cracking location, and along with Royal Oak pub, is the only amenity in this popular commuter spot.

“Harpreet Banwait is a new client to Blue Marble and seeking to build a mixed commercial property portfolio, so we are looking for other investment opportunities which meet his requirements.”

Mr Banwait says:

“Real Estate Investments Group Limited was recently set up to develop a significant portfolio of high quality, safe, income protected returns. All acquisitions are to be made from existing cash resources. One of REIG Ltd’s greatest strengths is its ability to move quickly by recognising value and closing the deal – a result of its ready access to capital. We will be working very closely with Blue Marble Asset Management on future opportunities.”

Blue Marble Asset Management presently has more than £100 million of property assets under management. It works for a select range of clients including family offices, trusts, high net worth individuals and investment businesses. Its business is based on understanding its clients’ investment requirements, their attitude to risk, their aspirations on returns and their long term goals and providing them with the optimum commercial property investment strategy. It can be contacted on tel. 0121 272 4949 or via email. tmatthews@bmassetmanagement.co.uk.