Court secures further Chinese investment for new Jewellery Quarter development
BIRMINGHAM property developer Court Collaboration has purchased a prime development site in the city’s historic Jewellery Quarter.
In common with other recent purchases by Court, the deal to purchase the site on Legge Lane has again been backed by Chinese investment.
The deal, facilitated by Knight Frank, is Court’s third 100% Chinese-equity development in the region and sees the developer securing capital from Prosperous GlobalChina Capital, a consortium of high net-worth investors from China and Taiwan.
The latest £15m project will see the site transformed into a 78-apartment scheme comprising studio, one and two bedroom properties.
Anthony McCourt, CEO at Court Collaboration, said: “To have secured the site at Legge Lane is a huge win for us. The purchase comes at a time when wealthy Chinese investors are eager to invest in projects abroad, and it’s important for us to capitalise on the exponential growth that Birmingham is currently experiencing.”
Court Collaboration has also secured Far Eastern investment for the redevelopment of Franklin House, the former Cadbury headquarters in Bournville, which is currently undergoing a £16m transformation into 79 luxury homes, as well as the Grade II-listed 130 Colmore Row.
Denise Li, President & Vice Chairman at Prosperous GlobalChina Capital, wants to use Birmingham to show how western cities can grow with the support of Far Eastern investment.
She said: “In China, people are interested in ways to invest their money abroad, with property at the top of their list. Birmingham has lots of room for growth and provides us with many opportunities to help the city at a very interesting time in its history. This is a really interesting project for us to get started with Court Collaboration, and the first of many schemes to come.”
