London Development Group makes major investment in Birmingham

The London Development Group has made a major investment in Birmingham after acquiring the historic Borough Buildings at 58-72 John Bright Street.

The Borough Building was constructed as one of the first purpose built car dealership garages in the country. After the garage closed, the building had a number of subsequent uses including being home to the Ikon Gallery.

Since the gallery moved to Brindley Place, the building has been used as office space.

London Development Group says it will transform the site into a residential scheme after securing planning for 31 apartments, with construction due to start in quarter two.

It marks the company’s second investment in the city, following is acquisition of a 0.38 acre site on Caroline Street in the Jewellery Quarter comprising of six buildings, two of which are Grade II listed, in September 2018.

Daniel Obertelli, chief executive of London Development Group, said: “This is our second acquisition in Birmingham in the last few months. We are making key acquisitions in the city, which represents our confidence in Birmingham’s economy and potential for growth. We have substantial capital to deploy and are on target to deliver 1,000 residential apartments in the city.

“We are looking forward to working with Birmingham City Council, our new neighbours and the local community to develop proposals which enrich the area.”

 

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