Travers Smith LLP has advised longstanding client Clearbell Capital LLP on its acquisition of Belgrade Plaza in Coventry for £16m. This is the second mixed-use scheme in Coventry to be purchased by Clearbell on behalf of a fund it manages in two years following their acquisition of Earlsdon Park in 2015, which Travers Smith also advised on.
Belgrade Plaza, which sits at the heart of Coventry and is adjacent to the popular Belgrade Theatre, is a residential and leisure investment comprising a 119 room Premier Inn, Bella Italia, Café Rouge, Pizza Express, JD Gyms and 64 residential apartments, as well as a 4,500 sq ft vacant retail/leisure unit.
Clearbell Capital LLP is an independently-owned private equity real estate fund management and advisory business specialising in UK property investment, development and asset management.
The Travers Smith team advising Clearbell on the acquisition was led by real estate partner Julian Bass and senior counsel Emma Pereira with support from associate Alissandra Farrar. Finance partner Danny Peel and senior associate Chris Brooks advised the client on funding.