A London-based property developer and investor has acquired its third building in Birmingham.
Consortia Developments has acquired the Colmore Place apartment building in the city’s Jewellery Quarter.
The freehold of the grade II listed building at 36-37 Cox Street has been bought in an undisclosed deal from Bricklane REIT.
It was built in 1920 and was previously used for jewellery manufacturing and then as offices before being converted into apartments in 2006.
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Consortia Developments is currently redeveloping Lockside House, in Scotland Street, into 61 canalside homes and last year acquired Gamgee House, a 17,500 sq ft office building in Ladywood, with plans to turn that into apartments.
Partner Olly Clayton said: “Colmore Place is our second residential investment in Birmingham. It’s a beautiful, historic building that has a lot of potential for redevelopment within the boundaries of its listed status.
“In keeping with the building’s history and heritage, and that of the surrounding Jewellery Quarter and St Paul’s Square areas, we’re aiming to create a high-end, boutique style residential scheme.”
Managing partner Archie Ward added: “With two residential schemes and one recently acquired office building in Ladywood under our belt, we’re continuing to establish a strong foothold in Birmingham’s property market.
“It’s an exciting city to be in right now, with its investment potential continuing to get better and better.”
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https://www.business-live.co.uk/commercial-property/london-investor-acquires-third-birmingham-23797840
