London developer swoops for Jewellery Quarter apartment building

Consortia Developments has bought Colmore Place, a residential apartment building in Birmingham’s Jewellery Quarter.

The London-based property development and investment company has acquired the freehold to the Grade II listed building at 36-37 Cox Street from Bricklane REIT. It paid £200 per sq ft for the space.

Built in 1920 and formerly used for jewellery manufacturing and later offices, the brick and stone-built building was converted to apartments in 2006.

Consortia Developments, which is redeveloping Lockside House on Scotland Street into 61 canalside homes, and recently acquired Gamgee House, a 17,500 sq ft office building in Ladywood, plans to redevelop the apartments.

Olly Clayton, partner at Consortia Developments, 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.”

Archie Ward, managing partner at Consortia Developments, 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.”